2. Now let's look at Medidata Solutions, which produces cloud-based clinical development solutions for life sciences in the U.S. and internationally.
Medidata traded positive on Tuesday, closing up 3.69% to $41.17 per share.
- Tuesday's range: $39.85 - $41.58
- 52-week range: $32.10 - $68.21
- Tuesday's volume: 734,850
- 3-month average volume: 1,054,850
Medidata is a rounded bottom breakout -- a chart pattern that keeps on giving. The rounded bottom breakout keeps trading down, forming a bottom, testing that bottom, then trading above the bottom levels that were previously formed. Then, the price action moves over the 50-day simple moving average, triggering my interest.
With this chart, shares traded down, formed a bottom, rose above those levels and consolidated. Now price action has closed above the consolidation levels and the 50-day simple moving average.This trade needs to see a little follow-through today, but it is in a clear uptrend from from a short-term viewpoint. I'd look for an entry above the 50-day simple moving average at $40.34. I'd set a stop below Monday's low of $38.67. I'd ultimately target the 200-day simple moving average, which is at $52.53. Trading to the 200 SMA would be a 27% trade to the upside. You could also just trade to one of the near-term resistance levels of, say, $47.80 for 15% to the upside. Great potential in this chart! Stay long until you see a confirmed sell signal or a close below the t-line. 3. Lastly, let's look at Twitter, the global platform for narcissistic instant self-expression. Twitter traded down a penny on Tuesday, closing at $38.02 per share.
- Tuesday's range: $37.30 - $38.55
- 52-week range: $29.51 - $74.73
- Tuesday's volume: 30,136,891
- 3-month average volume: 23,684,600