AVG Technologies (AVG) provides antivirus and Internet security products. This stock closed up 8.2% at $10.84 on Tuesday.
Tuesday's Volume: 2.2 millionAverage Volume: 335,351 Volume % Change: 677% >>3 Tech Stocks Hedge Funds Are Buying From a technical perspective, AVG exploded to the upside and back above its 50-day moving average of $10.28 with monster volume. This move is quickly pushing AVG within range of triggering a major breakout trade, which will hit once AVG manages to take out some near-term overhead resistance at $11.51 with high volume. Traders should now look for long-biased trades in AVG as long as it is trending above its 50-day, and then once it sustains a move or close above $11.51 with volume that registers near or above 335,351 shares. If that breakout triggers soon, then AVG will set up to re-test or possibly take out its next major overhead resistance levels at $12.50 to $14.35.
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