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Qlik Technologies(QLIK - Get Report) engages in the development, commercialization and implementation of software products and related services for user-driven business intelligence that enables customers to make business decisions primarily in the Americas, Europe, the Asia-Pacific region and Africa. This stock is trading up 6.5% at $20.39 in recent trading.
Today's Volume: 1.5 million
Average Volume: 1.85 million
Volume % Change: 69%
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From a technical perspective, QLIK is bouncing hard here right off some previous support at $19 with decent volume. This move is coming off oversold levels since its relative strength index was around 30 coming into today.
Traders should now look for long-biased trades in QLIK once it manages to clear its 50-day moving average of $22.22 with high volume. Look for a sustained move or close above $22.22 with volume that registers near or above 1.85 million shares. If QLIK triggers that move soon, then look for this stock to re-test or possibly take out its next significant overhead resistance levels at $25.15 to $25.70.