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RDA Microelectronics (
RDA) is a China-based fabless semiconductor company that designs, develops and markets radio-frequency and mixed-signal semiconductors for a broad range of cellular, broadcast, and connectivity applications. This stock closed up 6.3% to $10.88 on Friday.
Friday's Volume: 489,000
Average Volume: 198,255
Volume % Change: 351%
>>5 Stocks Poised for Breakouts
From a technical perspective, RDA ripped higher here right above its 50-day moving average at $10.15 and back above its 200-day moving average at $10.53 with above-average volume. This move is quickly pushing shares of RDA within range of triggering a near-term breakout trade. That trade will hit if RDA manages to take out some near-term overhead resistance levels at $11.35 to $11.80 with high volume.
Traders should now look for long-biased trades in RDA as long as it's trending above its 50-day at $10.15 and then once it sustains a move or close above those breakout levels with volume that hits near or above 198,255 shares. If that breakout triggers soon, then RDA will set up to re-test or possibly take out its next major overhead resistance levels at 52-week high of $12.58 to $12.77. Any high-volume move above those levels will then put $14 to $14.25 into range for shares of RDA.
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