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OpenTable(OPEN) provides solutions that form an online network connecting reservation-taking restaurants and people who dine at those restaurants. This stock is trading up 3% at $44.97 in recent trading.
Today's Volume: 928,000
Average Volume: 693,851
Volume % Change: 122%
Shares of OPEN are rallying after
Reuters reported that
Yahoo!(YHOO) executives had shown interest in buying the company.
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From a technical perspective, OPEN is bouncing modestly higher here back above its 50-day moving average of $44.45 with above-average volume. This move is quickly pushing OPEN within range of triggering a near-term breakout trade. That trade will hit once OPEN manages to take out some near-term overhead resistance levels at $46.16 to $46.52 with high volume.
Traders should now look for long-biased trades in OPEN as long as it's trending above $43.54, and then once it sustains a move or close above those breakout levels with volume that hits near or above 693,851 shares. If that breakout triggers soon, then look for OPEN to re-test or possibly take out its next major overhead resistance levels at $50.29 to $52.64.