Conceptus

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Conceptus ( CPTS) is engaged in the design, development, marketing and promotion of solutions in women's healthcare. This stock is trading up 9% at $15.16 in recent trading.

Today's Volume: 524,000

Average Volume: 180,667

Volume % Change: 479%

>>10 Industrial Stocks Poised for a Rebound

Shares of CPTS are ripping higher today after the company reported net sales for the first-quarter of 2012 that were $29.0 million, an increase of 9.3% compared with net sales for the first-quarter of 2011 of $26.6 million.

From a technical perspective, CPTS is gapping up sharply here back above its 50-day moving average of $13.99 on heavy volume. This move is quickly pushing CPTS within range of triggering a near-term breakout trade. That trade will hit once CPTS takes out some near-term overhead resistance at $15.25 with high-volume.

Traders should now look for long-biased trades off a move or close over $15.25 with volume that's near or well above 180,667 shares. If we get that action soon, then look for CPTS to clear some past overhead resistance at $15.70 to $15.78 with high-volume. If all those levels are taken out with volume, then target a run back towards its next significant overhead resistance at $17.74.

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