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.