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TROV) is a development stage molecular diagnostic company that focuses on the development and marketing of urine-based nucleic acid tests for patient/disease screening and monitoring. This stock closed up 8.7% to $6.56 on Thursday.
>>5 Stocks Spiking on Unusual Volume
From a technical perspective, TROV ripped higher here back above its 50-day moving average of $6.32 with above-average volume. This move is quickly pushing shares of TROV within range of triggering a major breakout trade. That trade will hit if TROV manages to take out some near-term overhead resistance levels at $6.80 to $7.23 and then once it clears some past resistance at $7.40 with high volume.
Traders should now look for long-biased trades in TROV as long as it's trending above its 50-day at $6.32 and then once it sustains a move or close above those breakout levels with volume that hits near or above 90,070 shares. If that breakout triggers soon, then TROV will set up to re-test or possibly take out its next major overhead resistance levels at $8.50 to its all-time high at $8.96. Any high-volume move above its all-time high will then give TROV a chance to trend north of $10.
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