Dana Holding (DAN - Get Report) engages in the design, manufacture and supply of driveline products, technologies and service parts for vehicle manufacturers worldwide. This stock is trading up 5.8% at $19.94 in Tuesday's trading session.
Tuesday's Volume: 5.91 million
Three-Month Average Volume: 2.78 million
Volume % Change: 354%
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From a technical perspective, DAN is ripping higher here back above both its 50-day moving average at $19.32 and its 200-day moving average at $19.82 with heavy upside volume. This move is quickly pushing shares of DAN within range of triggering a major breakout trade. That trade will hit if DAN manages to take out some near-term overhead resistance levels at $20.35 to $20.50 and then once it clears its gap-down day high from last October at $21 with high volume.
Traders should now look for long-biased trades in DAN as long as it's trending above Tuesday's low of $19.15 or above some more near-term support at $18.78 and then once it sustains a move or close above those breakout levels with volume that's near or above 2.78 million shares. If that breakout triggers soon, then DAN will set up to re-fill some of its previous gap-down-day zone that started near $23.