Volume Spike Detected in Shares of Radio One as They Move Higher on 2.1x Above-Average Volume (ROIAK)

story by Benzinga
written by Chip Brian

Shares of Radio One (NASDAQ: ROIAK) are trading up 12.1% to $1.78 today on above average volume. Approximately 1 million shares have traded hands today vs. average 30-day volume of 472,000 shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of ROIAK to see if this bullish momentum will continue.

SmarTrend currently has shares of Radio One in an Uptrend and issued the Uptrend alert on September 08, 2010 at $0.85. The stock has risen 88.2% since the Uptrend alert was issued.

In the last five trading sessions, the 50-day MA has climbed 3.2% while the 200-day MA has slid 4.66%.

In the past 52 weeks, shares of Radio One have traded between a low of $0.55 and a high of $5.44 and are now at $1.63, which is 195% above that low price.