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2 Tech Stocks Spiking on Big Volume

Power Integrations

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Power Integrations ( POWI) designs, develops, manufactures and markets proprietary, high-voltage, analog integrated circuits for use in AC-DC and DC-DC power conversion in the consumer, communications, computer and industrial electronics markets. This stock closed up 5.9% at $55.15 in Wednesday's trading session.

Wednesday's Volume: 571,000
Three-Month Average Volume: 218,547
Volume % Change: 173%

>>5 Tech Stocks Under $10 Triggering Breakouts

From a technical perspective, POWI ripped higher here right above some near-term support at $50.68 with above-average volume. This move also pushed shares of POWI into breakout and new 52-week-high territory, since the stock took out some near-term overhead resistance at $55.38. At last check, POWI closed a bit off its intraday high and volume was well above its three-month average action of 218,547 shares.

Traders should now look for long-biased trades in POWI as long as it's trending above Wednesday's low of $52.60 and then once it sustains a move or close above Wednesday's high of $55.59 with volume that this near or above 218,547 shares. If we see that move soon, then POWI will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $60 to $62.
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POWI $43.16 2.20%
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Chart of I:DJI
DOW 16,722.71 +250.34 1.52%
S&P 500 1,982.29 +30.93 1.58%
NASDAQ 4,767.5510 +59.7760 1.27%

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