DELAFIELD, Wis. (Stockpickr) -- These three tech stocks moved higher on Wednesday. Here's how to trade them on Thursday.
Jiayuan.com (DATE) operates an online dating platform in the People's Republic of China. This stock closed up 5.8% to $6.91 a share in Wednesday's trading session.
Wednesday's Range: $6.52-$7.05
52-Week Range: $4.64-$9.48
Thursday's Volume: 569,000
Three-Month Average Volume: 223,846
From a technical perspective, DATE surged sharply higher here and broke out above some near-term overhead resistance at $6.78 with above-average volume. Market players should now look for a continuation move higher here in the short-term if DATE manages to clear Wednesday's high of $7.05 with strong volume.
Traders should now look for long-biased trades in DATE as long as it's trending above its 200-day at $6.28 and then once it sustains a move or close above $7.05 with volume that hits near or above 223,846 shares. If that move materializes soon, then DATE will set up to re-test or possibly take out its next major overhead resistance levels at $7.67 to $7.78 or $8.13 to $8.30.
Advanced Micro Devices (AMD) operates as a semiconductor company worldwide. This stock closed up 0.54% to $3.72 a share in Wednesday's trading session.
Wednesday's Range: $3.68-$3.74
52-Week Range: $2.26-$4.65
Thursday's Volume: 14.17 million
Three-Month Average Volume: 23.16 million
From a technical perspective, AMD trended modestly higher here with lighter-than-average volume. This move is quickly pushing shares of AMD within range of triggering a big breakout trade. That trade will hit if AMD manages to take out some near-term overhead resistance levels at $3.75 to its 200-day moving average of $3.77 with high volume.