Ambarella ( AMBA) is a developer of semiconductor processing solutions for video that enable high-definition video capture, sharing and display. This stock closed up 8.4% to $19.11 in Wednesday's trading session.
Wednesday's Volume: 2.94 million
Three-Month Average Volume: 1.04 million
Volume % Change: 164%
Three-Month Average Volume: 641,772
Volume % Change: 195% From a technical perspective, SZYM gapped sharply higher here back above its 50-day moving average of $11.40 with strong upside volume. This move also pushed shares of SZYM into breakout territory, since the stock took out some near-term overhead resistance at $10.93. Shares of SZYM are now starting to trend within range of triggering another breakout trade. That trade will hit if SZYM manages to take out Wednesday's high of $11.80 and then once it clears more resistance at $12.08 to its 52-week high at $13.09 with high volume. Traders should now look for long-biased trades in SZYM as long as it's trending above Wednesday's low of $11.19 or above $11 and then once it sustains a move or close above those breakout levels with volume that this near or above 641,772 shares. If that breakout hits soon, then SZYM will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $16.