Traders should now look for long-biased trades in ACH as long as it's trending above its 50-day at $8.77 and then once it sustains a move or close above those breakout levels with volume that hits near or above 81,112 shares. If that breakout hits soon, then ACH will set up to re-test or possibly take out its next major overhead resistance levels at 10.50 to $11.50.
Merge Healthcare (
MRGE) develops software solutions that facilitate the sharing of images to create a more effective and efficient electronic healthcare experience for patients and physicians. This stock closed up 4.5% to $2.75 in Thursday's trading session.
Thursday's Range: $2.62-$2.75
52-Week Range: $2.27-$4.71
Thursday's Volume: 347,000
Three-Month Average Volume: 858,203
From a technical perspective, MRGE spiked higher here right above some near-term support at $2.55 with lighter-than-average volume. This stock recently gapped down sharply in August from $4.60 to below $2.40 with heavy downside volume. Following that gap down, shares of MRGE have started to stabilize and consolidate in a tight range between $2.35 on the downside and $2.98 on the upside. This move on Thursday is quickly pushing shares of MRGE within range of triggering a major breakout trade above the upper-end of its recent range. That trade will hit if MRGE manages to take out some near-term overhead resistance levels at $2.79 to $2.98 and then once it clears its gap down day high of around $3.20 with high volume.
Traders should now look for long-biased trades in MRGE as long as it's trending above some key near-term support levels at $2.54 or at $2.35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 858,203 shares. If that breakout hits soon, then MRGE will set up to re-fill some of its previous gap down zone that started at $4.60.
) is a fully-integrated intellectual property investment and advisory firm. This stock closed up 11.1% to $2.09 in Thursday's trading session.
Thursday's Range: $1.92-$2.09
52-Week Range: $1.04-$2.71
Thursday's Volume: 171,000
Three-Month Average Volume: 416,625
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