NQ Mobile (NQ - Get Report) provides mobile Internet services in the areas of mobile security, privacy, productivity, personalized cloud and family protection. This stock closed up 12.2% at $15.63 in Wednesday's trading session.
Wednesday's Volume: 11.81 million
Three-Month Average Volume: 7.10 million
Volume % Change: 195%
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From a technical perspective, NQ gapped sharply higher here with heavy upside volume. This move briefly pushed shares of NQ into breakout territory, since the stock flirted with some near-term overhead resistance at $16.30. Shares of NQ hit an intraday high on Wednesday of $16.63 before finishing the trading session at $15.63. Market players should now look for a continuation move higher in the short-term if NQ can manage to take out Wednesday's high of $16.63 with strong volume.
Traders should now look for long-biased trades in NQ as long as it's trending above Wednesday's low of $15.10 and then once it sustains a move or close above $16.63 with volume that this near or above 7.10 million shares. If we get that move soon, then NQ could rip sharply higher towards $20 to $22.