Acacia Research

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Acacia Research ( ACTG), through its operating subsidiaries acquires, develops, licenses and enforces patented technologies. This stock is trading up 4% at $30.37 in recent trading.

Today's Volume: 959,000

Average Volume: 503,313

Volume % Change: 182%

From a technical perspective, ACTG is bouncing higher here right above its 200-day moving average of $28.49 with above-average volume. This move is quickly pushing shares of ACTG within range of triggering a near-term breakout trade. That trade will hit if ACTG manages to clear some near-term overhead resistance at $32.59 with high volume.

Traders should now look for long-biased trades in ACTG as long as it's trending above today's low of $29.45, and then once it sustains a move or close above $32.59 with volume that hits near or above 503,313 shares. If that breakout triggers soon, then ACTG will set up to re-test or possibly take out its next major overhead resistance level at around $40.

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