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From a technical perspective, BCOV is bouncing higher here right off some near-term support at $7 with lighter-than-average volume. This stock recently gapped up sharply from under $6 to its recent high of $7.98 with heavy upside volume. Shares of BCOV are now flagging and the stock is quickly moving within range of triggering a breakout trade. That trade will hit if BCOV manages to take out its recent high off that gap at $7.98 with high volume.
Traders should now look for long-biased trades in BCOV as long as it's trending above some key near-term support at $7 and then once it sustains a move or close above today's high of $7.63 and then $7.98 with volume that hits near or above 381,292 shares. If that breakout hits soon, then BCOV will set up to re-fill its previous gap down zone from February that started close to $9. Any high-volume move above $9 will then put its 200-day at $9.68 to $10.25 into range for shares of BCOV.
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 Madison, Wis.