This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Millennial Media (
MM) is an independent mobile advertising platform company. This stock is trading up 5.5% to $8.69 in recent trading.
Today's Range: $8.23-$8.77
52-Week Range: $5.87-$16.86
Three-Month Average Volume: 1.52 million
>>5 Stocks Poised to Break Out
From a technical perspective, MM is surging higher here right above some near-term support at $8.03 with lighter-than-average volume. This stock has been uptrending strong for the last two months and change, with shares moving higher from its low of $5.87 to its intraday high of $8.77. During that move, shares of MM have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now started to push shares of MM into breakout territory, since the stock is challenging some past resistance at $8.75.
Traders should now look for long-biased trades in MM as long as it's trending above some near-term support levels $8.03 to $7.82, and then once it sustains a move or close above some breakout levels $8.75 to $8.77 with volume that hits near or above 1.52 million shares. If we get that move soon, then MM will set up to re-test or possibly take out its next major overhead resistance levels at $9.50 to $10. Any high-volume move above those levels will then give MM a chance to re-fill some of its previous gap down zone from February that started around $14.50.