52-Week Range: $3.41-$7.58
Thursday's Volume: 106,000
Three-Month Average Volume: 83,781 From a technical perspective, MCHX spiked sharply higher here right above some near-term support at $7 with above-average volume. This stock has been uptrending strong for the last five months, with shares moving higher from its low of $3.70 to its recent high of $7.58. During that uptrend, shares of MCHX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MCHX within range of triggering a major breakout trade. That trade will hit if MCHX manages to take out Tuesday's high of $7.48 to its 52-week high at $7.58 with high volume. Traders should now look for long-biased trades in MCHX as long as it's trending above its 50-day at $6.60 and then once it sustains a move or close above those breakout levels with volume that hits near or above 83,781 shares. If that breakout triggers soon, then MCHX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $8.76 to $9.55, or even $10.