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AOL) is a global Web services company whose business consists of online content, products and services that it offers to consumers, publishers and advertisers. This stock closed up 1.4% to $36.69 in Wednesday's trading session.
Wednesday's Volume: 4.52 million
Three-Month Average Volume: 1.15 million
Volume % Change: 285%
>>5 Stocks Ready to Break Out
From a technical perspective, AOL jumped modestly higher here back above its 50-day moving average of $36.29 with heavy upside volume. This move is quickly pushing shares of AOL within range of triggering a major breakout trade. That trade will hit if AOL manages to take out some near-term overhead resistance levels at $38.48 to $40 with high volume.
Traders should now look for long-biased trades in AOL as long as it's trending above its 50-day at $36.29 or above more support at $35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.15 million shares. If that breakout hits soon, then AOL will set up to re-fill its previous gap down zone from May that started at $42.12. Any high-volume move above $42.12 will then give AOL a chance to tag $45 to $50.