YRC Worldwide (YRCW), through its subsidiaries, provides various transportation services primarily in North America. This stock closed up 9.9% at $21.89 in Wednesday's trading session.
Wednesday's Volume: 2.49 million
Three-Month Average Volume: 1.66 million
Volume % Change: 115%
From a technical perspective, YRCW spiked sharply higher here and broke out above some near-term overhead resistance at $20.77 and above some past resistance at $21.87 with above-average volume. Market players should now look for a continuation move higher in the short-term if YRCW can manage to clear Wednesday's high of $22.25 with strong volume.Traders should now look for long-biased trades in YRCW as long as it's trending above Wednesday's low of $19.52 or above $18.50 and then once it sustains a move or close above $22.25 with volume that hits near or above 1.66 million shares. If we get that move soon, then YRCW will set up to re-test or possibly take out its next major overhead resistance levels at $25 to $27.