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Align Technology(ALGN - Get Report) designs, manufactures and markets the Invisalign system, a method for treating the misalignment of teeth. This stock is trading up 5.9% at $31.93 in recent trading.
Today's Volume: 2.04 million
Average Volume: 940,000
Volume % Change: 367%
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From a technical perspective, ALGN is ripping higher here back above its 200-day moving average at $31.58 with heavy upside volume. This move is quickly pushing shares of ALGN within range of triggering a near-term breakout trade. That trade will hit if ALGN manages to take out its 50-day at $32.21 with high volume.
Traders should now look for long-biased trades in ALGN as long as it's trending above its 200-day at $31.58 or above $31 and then once it sustains a move or close above its 50-day at $32.21 with volume that hits near or above 940,000 shares. If that breakout triggers soon, then ALGN will set up to re-test or possibly take out its next major overhead resistance levels at $33 to $33.84. Any high-volume move above $33.84 will then give ALGN a chance to re-fill some of its previous gap down zone from last October that started above $38.