This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
OPEN) provides solutions that form an online network connecting reservation-taking restaurants and people who dine at those restaurants. This stock closed up 2.8% at $68.81 in Friday's trading session.
>>5 Surprise Stocks the Pros Love Right Now
From a technical perspective, OPEN jumped higher here right above its 50-day moving average of $65.61 with decent upside volume. This move is quickly pushing shares of OPEN within range of triggering a major breakout trade. That trade will hit if OPEN manages to take out some near-term overhead resistance levels at $70.88 to its 52-week high at $72.18 with high volume.
Traders should now look for long-biased trades in OPEN as long as it's trending above its 50-day at $65.61, and then once it sustains a move or close above those breakout levels with volume that's near or above 612,662 shares. If that breakout triggers soon, then OPEN will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $75 to $80.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.