52-Week Range: $5.75-$36.99
Thursday's Volume: 790,000
Three-Month Average Volume: 609,580 From a technical perspective, YRCW spiked modestly higher here with above-average volume. This stock has been downtrending badly for the last two months, with shares plunging lower from its high of $21.87 to its intraday low of $8.65. During that downtrend, shares of YRCW have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of YRCW have now entered oversold territory, since its current relative strength index reading is 21.41. Oversold can always get more oversold, but it's also an area where a stock can experience a powerful bounce higher from. This spike higher on Thursday with volume could be signaling the downside volatility is over for YRCW in the short-term, and the stock is ready for an oversold bounce higher. Traders should now look for long-biased trades in YRCW as long as it's trending above Thursday's low of $8.65, and then once it sustains a move or close above Thursday's high of $9.55 to $10 with volume that hits near or above 609,580 shares. If we get that move soon, then YRCW could bounce sharply higher and possibly tag $12 to $14.