Traders should now look for long-biased trades in WIFI as long as it's trending above some near-term support at $5.50 or $5.35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 120,705 shares. If that breakout triggers soon, then WIFI will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $6.75 to its gap down day high near $7. Any high-volume move above $7 will then give WIFI a chance to re-fill some of its gap down zone that started at $8.
Bluelinx (BXC) is a distributor of building products including lumber, structural panels, hardwood plywood, roofing, insulation, metal products, vinyl siding and particleboard. This stock is trading up 2.4% to $2.94 in recent trading.
Today's Range: $2.79-$3.0052-Week Range: $1.83-$3.48 Volume: 123,000 Three-Month Average Volume: 169,421 From a technical perspective, BXC is trending higher here and starting to flirt with its 50-day moving average of $2.97 with decent upside volume. Shares of BXC have also started to break out above some near-term overhead resistance levels at $2.82 to $2.89. At last check, BXC has hit an intraday high of $3 and volume is just a bit below its three-month average action of 169,421 shares. Traders should now look for long-biased trades in BXC as long as it's trending above $2.82, and then once it sustains a move or close above its 50-day at $2.97 with volume that hits near or above 169,421 shares. If that breakout triggers soon, then BXC will set up to re-test or possibly take out its next major overhead resistance levels at $3.17 to $3.30. Any high-volume move above those levels will then put its 52-week high at $3.48 into play for shares of BXC. 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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