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AsiaInfo-Linkage ( ASIA) is a provider of telecommunications software solutions and information technology, related services in the People's Republic of China. This stock is trading up 11.6% at $12.37 in recent trading.

Today's Volume: 620,000

Average Volume: 350,878

Volume % Change: 381%

Shares of ASIA are soaring higher today after Reuters reported that private equity funds including Silverlake, TPG Capital and Primavera Capital are considering bids for the company. Sources with knowledge of the situation told Reuters that the deal could be worth more than $1 billion.

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From a technical perspective, ASIA is exploding higher as the stock moves back above its 50-day moving average of $11.44 with monster volume. This move is quickly pushing ASIA within range of triggering a near-term breakout trade. That trade will hit once ASIA takes out some near-term overhead resistance at $12.98 with high-volume. At last check, ASIA has hit an intraday high of $13.00 but has since then pulled back to near $12.40.

Traders should now look for long-biased trades once ASIA sustains a move or close above $12.98 with high volume. Look for volume on that move that hits near or above 350,878 shares. If we get that action today or soon, then look for ASIA to re-test and possibly take out its March high of $13.90.

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