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MSCI(MSCI - Get Report) is a provider of investment decision support tools, including indices and portfolio risk and performance analytics, for use by institutions in managing equity, fixed income and multi-asset class portfolios. This stock closed up 6.2% at $27.20 in recent trading.
Tuesday's Volume: 4.5 million
Average Volume: 1.1 million
Volume % Change: 328.6%
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From a technical perspective, MSCI bounced higher here right off some near-term support at $26 with monster volume. This move has pushed MSCI into breakout territory, since the stock has cleared some near-term overhead resistance at $26.77. Shares of MSCI are also trending higher after the stock recently plunged from $36 to a low of $24.75 with heavy volume.
Traders should now look for long-biased trades in MSCI once it triggers its next major breakout trade. That trade will hit once MSCI manages to clear some near-term overhead resistance at $28.72 with high volume. Look for long trades in MSCI as long as it's trending above $26.77, and then once it sustains a move or close above $28.72 with volume that hits near or above 991,800 shares. If that breakout triggers soon, then MSCI could rebound back towards its gap down day high that sits just above $32, or even to its 50-day at $33.71.