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Active Network (
ACTV) provides applications that form an online network connecting a fragmented and diverse group of activity and event organizers with a large base of potential participants. This stock closed up 3.8% to $7.27 on Thursday.
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From a technical perspective, ACTV trended higher here right off some near-term support at $7 with above-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $3.83 to its recent high of $7.67. During that move, shares of ACTV have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ACTV within range of triggering a near-term breakout trade. That trade will hit if ACTV if it manages to take out some near-term overhead resistance levels at $7.50 to $7.67 with high volume.
Traders should now look for long-biased trades in ACTV as long as it's trending above some near-term support at $7 or above its 200-day at $6.47, and then once it sustains a move or close above those breakout levels with volume that hits near or above 472,947 shares. If that breakout triggers soon, then ACTV will set up to re-fill its previous gap down zone from last November that started near $10.
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