China Ming Yang Wind Power Group
52-Week Range: $1.06-$2.26
Thursday's Volume: 499,000
Three-Month Average Volume: 585,414 >>5 Stocks With Big Insider Buying From a technical perspective, shares of MY trended modestly higher here with lighter-than-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $1.48 to its recent high of $1.92. During that uptrend, shares of MY have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MY within range of triggering a near-term breakout trade. That trade will hit if MY manages to take out some near-term overhead resistance at $1.92 with high volume. Traders should now look for long-biased trades in MY as long as it's trending above Tuesday's low of $1.82 or above its 50-day at $1.66 and then once it sustains a move or close above $1.92 with volume that hits near or above 585,414 shares. If that breakout triggers soon, then MY will set up to re-test or possibly take out its 52-week high at $2.26. Any high-volume move above that level will then give MY a chance to tag its next major overhead resistance levels at $2.47 to $2.80.