This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Merit Medical Systems (
MMSI) develops, manufactures and distributes proprietary disposable medical devices used in interventional and diagnostic rocedures, particularly in cardiology, radiology and endoscopy. This stock closed up 3.6% at $13.53 in Monday's trading session.
>>5 Big Stocks to Trade for Big Gains
From a technical perspective, MMSI ripped sharply higher here right off its 50-day moving average of $13.04 with heavy upside volume. This move is quickly pushing shares of MMSI within range of triggering a major breakout trade. That trade will hit if MMSI manages to take out some near-term overhead resistance at $13.71 to $14.30 with high volume.
Traders should now look for long-biased trades in MMSI as long as it's trending above Monday's low of $12.99 or above its 200-day at $12.30, and then once it sustains a move or close above those breakout levels with volume that's near or above 184,214 shares. If that breakout hits soon, then MMSI will set up to re-test or possibly take out its 52-week high at $15.01. Any high-volume move above $15.01 to $15.37 will then give MMSI a chance to tag $16 to $17.