Traders should now look for long-biased trades in MERU as long as it's trending above some key near-term support at $3.40, and then once it sustains a move or close above those breakout levels with volume that hits near or above 167,439 shares. If that breakout triggers soon, then MERU will set up to re-test or possibly take out its next major overhead resistance levels at $4.75 to $5.33.
TravelCenters LLC (TA)
This company operates and franchises travel centers along the U.S. interstate highway system. Its products and service include diesel fuel, gasoline, truck repair and maintenance services and restaurants. This stock closed up 2.8% to $8.23 a share in Thursday's trading session.
Thursday's Range: $7.92-$8.3952-Week Range: $4.18-$12.50 Thursday's Volume: 322,000 Three-Month Average Volume: 358,159 From a technical perspective, TA trended modestly higher here right off its 200-day moving average of $8 with decent upside volume. This stock recently gapped down sharply in August from $11.29 to under $8 with heavy downside volume. Following that gap, shares of TA went on to make a new low at $7.06. Shares of TA have now started to rebound sharply off that $7.06 low and it's now quickly moving within range of triggering a near-term breakout trade. That trade will hit if TA manages to take out some near-term overhead resistance at $8.59 to its 50-day at $9.11 with high volume. Traders should now look for long-biased trades in TA as long as it's trending above its 200-day at $8.80 or above more near-term support at $7.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 358,159 shares. If that breakout hits soon, then TA will set up to re-test or possibly take out its next major overhead resistance level at $9.50. Any high-volume move above $9.50 will then give TA a chance to re-fill its previous gap down zone from August that started at $11.29. To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr.
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