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Advent Software (
ADVS) offers software and services that automate work flows and data across investment management organizations, as well as the information flows between an investment management organization and external parties. This stock closed up 3.2% at $28.66 in Friday's trading session.
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From a technical perspective, ADVS trended up here right above some near-term support at $27.24 with above-average volume. This stock has been uptrending strong for the last three months and change, with shares soaring higher from its low of $19.11 to its recent high of $31.22. During that uptrend, shares of ADVS have been consistently making higher lows and higher highs, which is bullish technical price action. Shares of ADVS recently pulled back from that high of $31.22 to its $27.24 low. This stock now looks ready to resume its uptrend and re-test its recent highs, if some key support levels hold.
Traders should now look for long-biased trades in ADVS as long as it's trending above its recent low of $27.24 or above its 50-day at $26.84 and then once it sustains a move or close above Friday's high of $28.71 with volume that this near or above 380,475 shares. If we get that move soon, then ADVS will set up to re-test or possibly take out its recent high of $31.22. Any high-volume move above $31.22 will then give ADVS a chance to tag $35.
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