Acme Packet (APKT) provides session delivery networks, enables secure, reliable delivery of next-generation voice, video and unified communications over IP networks. This stock is trading up 12.3% at $24.02 in recent trading.
Today's Volume: 2.87 millionAverage Volume: 1.81 million Volume % Change: 149% Shares of APKT are soaring higher today after Stifel Nicolaus upgraded the stock from hold to buy and slapped a $27 price target on the shares. From a technical perspective, APKT is ripping higher here right above its 200-day moving average of $20.55 with above-average volume. This stock has been uptrending strongly for the last three months, with shares soaring from a low of $15.20 to its intraday high of $24.09. During that move, shares of APKT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now started to push APKT into breakout territory, since the stock is moving above some near-term overhead resistance levels at $23.31 to $23.35. Traders should now look for long-biased trades in APKT as long as it's trending above its $22, and then once it sustains a move or close above $23.35 to $24.09 with volume that hits near or above 1.81 million shares. If APKT can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $26 to $27.
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