Traders should now look for long-biased trades in CRAY as long as it's trending above its 50-day at $12.39, and then once it sustains a move or close above those breakout levels with volume that hits near or above 216,835 shares. If that breakout triggers soon, then CRAY will enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $18.
International Game Technology
This company is a global gaming company engaged in the design, manufacture, and marketing of electronic gaming equipment and systems products. This stock is trading up 3.98% at $13.49 in recent trading.
Today's Volume: 9.52 million
Average Volume: 3.77 million
Volume % Change: 257%
Shares of IGT are trending up today after the company reported fiscal fourth quarter results and a profit prediction for the new year that were both better than expected.
From a technical perspective, IGT is gapping up sharply higher here right through its 50-day moving average of $12.83 with above-average volume. This move is quickly pushing IGT within range of triggering a near-term breakout trade. That trade will hit once IGT manages to clear some near-term overhead resistance levels at $13.43 to $13.56, and then once it takes out its 200-day at $14.22 with high volume. At last check, IGT has hit an intraday high of $13.85 and volume is well above its three-month average action.
Traders should now look for long-biased trades in IGT as long as it's trending above its 50-day at $12.83 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.77 million shares. If that breakout triggers soon, then IGT will set up to re-test or possibly take out its next major overhead resistance levels at $15.67 to $16. Any high-volume move above $16 would then pout $16.50 to $17.50 into focus for IGT.
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.
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