YuMe (YUME) provides digital video brand advertising solutions. This stock closed up 5.7% to $7.86 in Tuesday's trading session.
Tuesday's Range: $7.41-$7.90
52-Week Range: $5.86-$12.08
Tuesday's Volume: 272,000
Three-Month Average Volume: 174,521
From a technical perspective, YUME spiked sharply higher here right above some near-term support at $7.24 with above-average volume. This move is quickly pushing shares of YUME within range of triggering a big breakout trade. That trade will hit of YUME manages to take its 50-day moving average of $7.89 and then once it clears Tuesday's high of $7.90 with high volume.
Traders should now look for long-biased trades in YUME as long as it's trending above some near-term support at $7.24 and then once it sustains a move or close above those breakout levels with volume that hits near or above 174,521 shares. If that breakout hits soon, then YUME will set up to re-test or possibly take out its next major overhead resistance levels at $9 to $9.37. Any high-volume move above those levels will then give YUME a chance to tag its next major overhead resistance level at $10.15.