China HGS Real Estate
China HGS Real Estate (HGSH - Get Report) engages in real estate development, primarily in the construction and sale of residential apartments, car parks as well as commercial properties. This stock is trading up 5.5% to $10.86 in recent trading.
Today's Volume: 84,000Average Volume: 66,373 Volume % Change: 76% From a technical perspective, HGSH is bouncing sharply higher here right above some near-term support levels at $9.69 to $10.05 with above-average volume. This move is quickly pushing shares of HGSH within range of triggering a major breakout trade. That trade will hit if HGSH manages to clear its 52-week high at $11.52 with high volume. At last check, HGSH has hit an intraday high of $11.30, and volume is well above its three-month average action of 66,373 shares. Traders should now look for long-biased trades in HGSH as long as it's trending above some key near-term support at $10.05 and then once it sustains a move or close above $11.30 to $11.52 with volume that hits near or above 66,373 shares. If that breakout hits soon, then HGSH will set up to enter new 52-week high-territory above $11.52, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $14. 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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