(BBRY - Get Report)
designs, manufactures and markets wireless solutions for the mobile communications market worldwide. It provides platforms and solutions for access to information, including email, voice, instant messaging etc. This stock is trading up 10.7% at $14.46 in recent trading.
Today's Volume: 60.42 million
Average Volume: 62.22
Volume % Change: 62%
Shares of BBRY are ripping higher here after an interview with Lenovo CEO Yang Yuanqing in the French paper
reported that an acquisition of Blackberry wasn't being pursued but could possibly make sense.
From a technical perspective, BBRY is skyrocketing higher here back above its 50-day moving average of $14.08 with strong upside volume. This move has also pushed shares of BBRY into breakout territory, since the stock has cleared some near-term overhead resistance at $13.79. Shares of BBRY are now quickly moving within range of triggering another major breakout trade. That trade will hit if BBRY manages to take out some near-term overhead resistance levels at $15 to $15.49 with high volume.
Traders should now look for long-biased trades in BBRY as long as it's trending above its 50-day at $14.08, and then once it sustains a move or close above those breakout levels with volume that hits near or above 62.22 million shares. If that breakout triggers soon, then RIMM will set up to re-test or possibly take out its next major overhead resistance levels at $17.22 to $18.32. Any move above $18.32 will then push shares of BBRY into new 52-week-high territory, which is bullish technical price action.
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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