Knight Capital Group
(KCG - Get Report)
This is a financial services firm that provides market access and trade execution services across multiple asset classes to buy- and sell-side firms as well as offers capital markets services to corporate issuers & private companies. This stock is trading up 6% to $2.99 in recent trading.
Today's Range: $2.83-$3.03
52-Week Range: $2.24-$13.59
Volume: 7.12 million
Three-Month Average Volume: 2.83 million
Shares of KCG are moving higher today after Keefe Bruyette & Woods said the company may fetch as much as 1.4 billion in an acquisition based on the value of its biggest businesses.
From a technical perspective, KCG is trending higher here right above its 50-day moving average of $2.58 with monster upside volume. This move is quickly pushing KCG within range of triggering a major breakout trade. That trade will hit once KCG manages to take out some key overhead resistance levels at $3.04 to $3.12 with high volume.
Traders should now look for long-biased trades in KCG as long as it's trending above its 50-day at $2.58, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.83 million shares. If KCG triggers that breakout, then this stock will set up to re-test or possibly take out its next major overhead resistance level at $4.25. Any high-volume move above $4.25 will then put KCG into play to re-fill some of its massive gap down zone from August that started near $7.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher
portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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