Ultimate Software Group

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Ultimate Software Group ( ULTI), with its subsidiaries, designs, markets, implements and supports human resources, payroll and talent management solutions mainly in the U.S. and Canada.. This stock is trading up 3.5% at $103 in recent trading.

Today's Volume: 143,000

Average Volume: 154,615

Volume % Change: 67%

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From a technical perspective, ULTI is bouncing hard here right around its 50-day moving average of $98.62 with decent volume. This stock has been uptrending extremely strong for the last six months, with shares soaring from a low of $67.54 to its recent high of $106.40. During that uptrend, shares of ULTI have consistently made higher lows and higher highs, which is bullish technical price action. That action has now pushed ULTI within range of triggering a major breakout trade. That trade will hit once ULTI manages to clear some near-term overhead resistance at $105 to $106.40 with high volume.

Traders should now look for long-biased trades in ULTI as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 154,615 shares. If that breakout triggers soon, then look for UTLI to trend north of $110. Keep in mind that any move above $106.40 will push ULTI into all-time high territory, which is bullish price action.

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