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>>5 Big Trades for a Ping-Pong Market
From a technical perspective, DQ is trending higher here and breaking out above some near-term overhead resistance at $8.56 with decent upside volume. This move is quickly pushing shares of DQ within range of triggering an even bigger breakout trade. That trade will hit if DQ manages to take out some more near-term overhead resistance at $10 to $10.66 with high volume.
Traders should now look for long-biased trades in DQ as long as it's trending above that first tier breakout level of $8.56 and then once it sustains a move or close above those second tier breakout levels with volume that hits near or above 60,491 shares. If that breakout triggers soon, then DQ will set up to re-test or possibly take out its next major overhead resistance levels at $11.40 to $12 Any high-volume move above those levels will then put its next major overhead resistance levels at $13 to $14 into range for shares of DQ.
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