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>>5 Rocket Stocks to Buy Now
From a technical perspective, VHC spiked sharply higher here back above its 50-day moving average of $20.12 with above-average volume. This move is quickly pushing shares of VHC within range of triggering a near-term breakout trade. That trade will hit if VHC manages to take out Monday's high of $21.32 to more near-term resistance at $22.50 with high volume.
Traders should now look for long-biased trades in VHC as long as it's trending above its 50-day at $20.12 or above Monday's low at $19.50 and then once it sustains a move or close above those breakout levels with volume that's near or above 380,995 shares. If that breakout hits soon, then VHC will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $23.70 to $25.
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