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NuVasive(NUVA - Get Report) is a medical device company focused on developing minimally disruptive surgical products and procedures for the spine. This stock is trading up 9.4% at $13.85 in recent trading.
Today's Volume: 2,667,000
Average Volume: 805,328
Volume % Change: 491%
Shares of NUVA are skyrocketing today after the company reported a profit of $2.4 million in the current quarter versus a net loss of $67.6 million in the year-earlier quarter.
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From a technical perspective, NUVA is ripping to the upside here right off some near-term support at $12.35 with monster upside volume. This move is quickly pushing NUVA within range of triggering a major breakout trade. That trade will hit once NUVA manages to take out some near-term overhead resistance at $14.72, and then once it takes out its gap down day high of $15.48 with high volume.
Traders should now look for long-biased trades in NUVA once it manages to sustain a move or close above those breakout levels with volume that hits near or above 805,328 shares. If that breakout triggers soon, then NUVA will setup to re-fill some of that massive gap down from earlier this month that started above $22. Some possible upside targets are its 200-day at $18.88 and its 50-day at $19.48.