Monday's Volume: 505,000
Three-Month Average Volume: 69,559
Volume % Change: 541%
From a technical perspective, GIVN ripped sharply higher here right above some near-term support at $20.91 and above its 50-day moving average of $20.37 with heavy upside volume. This move briefly pushed shares of GIVN into breakout and new 52-week-high territory, since the stock flirted with some near-term overhead resistance at $22.96. Shares of GIVN closed just a bit below its daily high at $22.63. Market players should now look for a continuation move higher in the short-term if GIVN can manage to take out Monday's high of $22.99 with volume.
Traders should now look for long-biased trades in GIVN as long as it's trending above support at $20.91 or above its 50-day at $20.37 and then once it sustains a move or close above Monday's high at $22.99 with volume that hits near or above 69,559 shares. If we get that move soon, then GIVN will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $27 to $30.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume
portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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