Rovi (ROVI) focuses on powering the discovery and enjoyment of digital entertainment by providing a broad set of integrated solutions. This stock is trading up 3.9% at $17.02 in recent trading.
Today's Volume: 2.77 million
Average Volume: 951,025Volume % Change: 425% From a technical perspective, ROVI is ripping higher here right off some near-term support at $16.20 with above-average volume. This stock has been uptrending strong for the last four months, with shares soaring from its low of $13.29 to its intraday high of $17.29. During that move, shares of ROVI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has started to push ROVI within range of triggering a major breakout trade. That trade will hit if ROVI clears some resistance at $17.13 and then its 200-day at $18.20 with high volume. Traders should now look for long-biased trades in ROVI as long as it's trending above that key near-term support of $16.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 951,025 shares. If that breakout hits soon, then ROVI will set up to re-test or possibly take out its next major overhead resistance levels at $20.09 to $21.90. 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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