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Bally Technologies(BYI) is a global gaming company, which designs, manufactures, operates, and distributes advanced technology-based gaming devices, systems, server-based solutions, custom mobile applications and interactive applications. This stock is trading up 5.1% at $49.68 in recent trading.
Today's Volume: 1.1 million
Average Volume: 714,969
Volume % Change: 192%
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From a technical perspective, BYI is bouncing higher here right off some near-term support at $47 with above-average volume. This move has also pushed BYI into breakout territory, since the stock has started to challenge some near-term overhead resistance at $49.69. At last check, BYI has hit an intraday high of $51.16 and volume is well above its three-month average action of 714,969 shares.
Traders should now look for long-biased trades in BYI as long as it's trending above $48.43 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 714,969 shares as bullish. If BYI can maintain that trend, then this stock could be setting up to tag $55 to $60 in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.