AMC Network ( AMCX) owns and operates several popular and award-winning brands in cable television, including AMC, IFC, Sundance Channel, WE tv and IFC Films. This stock closed up 1.3% at $66.41 in Wednesday's trading session.
Wednesday's Volume: 814,000
Three-Month Average Volume: 445,048
Volume % Change: 120%
Three-Month Average Volume: 90,013
Volume % Change: 571% >>5 Rocket Stocks to Buy as Mr. Market Climbs From a technical perspective, AGI spiked sharply higher here right off its 50-day moving average of $15.13 with heavy upside volume. This marked the third day in a row that shares of AGI have seen strong upside volume flows. Shares of AGI are now quickly moving within range of triggering a major breakout trade. That trade will hit if AGI manage to take out Wednesday's high of $17 to $17.04 with high volume. Traders should now look for long-biased trades in AGI as long as it's trending above its 50-day at $15.13 or above its 200-day at $14.50, and then once it sustains a move or close above those breakout levels with volume that's near or above 90,013 shares. If that breakout hits soon, then AGI will set up to re-test or possibly take out its next major overhead resistance levels at $19.79 to $20.61.
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