NXP Semiconductor (NXPI)
This company provides high performance mixed signal and standard product solutions. Its solutions are used for automotive, identification, wireless infrastructure, lighting, consumer and computing applications. This stock is trading up 4.7% at $31.92 in recent trading.
Today's Volume: 3.78 million
Average Volume: 1.63 millionVolume % Change: 207% From a technical perspective, NXPI is ripping higher here right above some near-term support at $30 with above-average volume. This move has started to push shares of NXPI into breakout territory, since the stock has cleared some near-term overhead resistance at $31.28. Traders should now look for long-biased trades in NXPI as long as it's trending above $31.28 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.63 million shares as bullish. If NXPI can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance level at $35.32. -- Written by Roberto Pedone in Winderemere, Fla.
Twitter and become a fan on Facebook. At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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