HeartWave International

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HeartWave International ( HTWR) develops and manufactures small implantable heart pumps, or ventricular assist devices, for the treatment of advanced heart failure. This stock is trading up 4.5% at $70.21 in recent trading.

Today's Volume: 498,000

Average Volume: 124,859

Volume % Change: 423%

Shares of HTWR are ripping higher today after Wall Street analysts said the review by the FDA of the company's blood pump raised few new issues and the device was likely to get approved.

>>Health Care Stocks Bought and Sold by Hedge Funds

From a technical perspective, HTWR is surging back above its 50-day moving average today on heavy volume. This move has also pushed the stock close to and above some near-term overhead resistance at $69.68 to $71.11.

Traders should now consider long-biased trades as long as HTWR is trending above both its 50-day at $68.50 and above those near-term resistance levels with strong upside volume flows. I would consider any upside volume days that are near or above 124,859 shares as strong. If we get that action, look for HTWR to re-test its recent highs of $74.89 to $77.01 in the near future.

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