China Lodging Group
Mondays Volume: 832,000
Three-Month Average Volume: 193,320
Volume % Change: 289%
From a technical perspective, HTHT skyrocketed higher here with strong upside volume. This move pushed shares of HTHT into breakout and new 52-week-high territory, after the stock cleared some key overhead resistance levels at $26.40 to $27. Market players should now look for a continuation move higher in the short-term if HTHT manages to take out Monday's intraday high of $29.35 with high volume.
Traders should now look for long-biased trades in HTHT as long as its trending above Monday's low of $26.41 or above $26, and then once it sustains a move or close above $29.35 with volume that hits near or above 193,230 shares. If that breakout hits soon, then HTHT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $35 to $37.