Broadcom ( BRCM)

This company is a provider of semiconductors for wired and wireless communications. This stock is trading up 1.8% at $33.97 in recent trading.

Today's Volume: 9.39 million

Average Volume: 7.19 million

Volume % Change: 150%

Shares of BRCM are ticking higher here after D.A. Davidson raised its estimates through 2013.

From a technical perspective, BRCM is moving higher here and starting to flirt with its 200-day moving average of $34.06 with above-average volume. This move is quickly pushing BRCM within range of triggering a near-term breakout trade. That trade will hit once BRCM manages to take out some near-term overhead resistance levels at $34.78 to $35 with high volume.

Traders should now look for long-biased trades in BRCM as long as it's trending above its 50-day at $32.45, and then once it sustains a move or close above those breakout levels with volume that hits near or above 7.19 million shares. If that breakout triggers soon, then BRCM will set up to re-test or possibly take out its next major overhead resistance levels $36 to $36.88. Any move above those levels will then put $36.91 to $37.56 into focus for shares of BRCM.

Corrections Corporation of America ( CXW)

This company is an owner and operator of privatized correctional and detention facilities and a prison operator in the United States behind only the federal government and three states. This stock is trading up 2.7% at $35.06 in recent trading.

Today's Volume: 948,000

Average Volume: 777,006

Volume % Change: 91%

From a technical perspective, CXW is gapping up here right off some near-term support at $33.86 with above-average volume. This move is quickly pushing CXW within range of triggering a major breakout trade. That trade will hit once CXW manages to take out some near-term overhead resistance levels at $35.22 to $35.52 and then once it clears its 52-week high of $35.73 with high volume.

Traders should now look for long-biased trades in CXW as long as it's trending above its 50-day at $33.54, and then once it sustains a move or close above those breakout levels with volume that hits near or above 777,006 shares. If that breakout hits soon, then CXW will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $45 in the near future.

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