Sphere 3D Corp. (ANY)

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Sphere 3D

Sphere 3D provides virtualization technology solutions. This stock closed up 5.7% to $7 in Wednesday's trading session.

Wednesday's Range: $6.59-$7.17
52-Week Range: $2.29-$11.46
Wednesday's Volume: 76,000
Three-Month Average Volume: 41,963

From a technical perspective, ANY ripped higher here right above some near-term support levels at $6.50 to $6.36 with above-average volume. This move to the upside on Wednesday is starting to push shares of ANY within range of triggering a big breakout trade above a key downtrending trendline. That trade will hit if ANY manages to take out its 50-day moving average of $7.29 to some more key overhead resistance levels at $7.73 to $7.95 with high volume.

Traders should now look for long-biased trades in ANY as long as it's trending above some near-term support levels at $6.50 or at $6.36 and then once it sustains a move or close above those breakout levels with volume that hits near or above 41,963 shares. If that breakout begins soon, then ANY will set up to re-test or possibly take out its next major overhead resistance levels at $9.45 to $10, or even $11.