Stock of the Hour Apr 5 1999 12:45PM CSTArchives...
Visual Data Corp. (VDAT)-- Breaking out to a New High
by Mark W. Draud
Sr. Investment Research Analyst
Visual Data Corp. {VDAT) has broken above resistance around 17 into new high territory today, and relative volume is tremendous-- for the second day in a row. According to Market Guide, VDAT "is a multi-media content producer, marketer and distributor of advertising products and consumer-based portfolio libraries for use on the Internet and
eventually, Interactive Television." Its market capitalization is about $90 million. The stock, which appeared on the 1:25 P.M. EDT ProSearch run of Stocks Breaking out to New Highs, is up 2-1/2 points (15.8%) at 18-5/16, on almost 1.9 million shares. That's a whopping 598% of its 30-day average volume of 315 thousand shares-- already! As I've said many times before, you want to pay attention to the technical breakouts (above horizontal resistance, new highs, etc.) with good volume, because they usually lead to more upside price action. Today's jump follows another "gap up" on Thursday (April 1) when it broke above its 50-day moving average, again with terrific relative volume. VDAT has now leaped 40% over the last 2 days!
Disclaimer: This report is published solely for information purposes and is not to be construed as advice to either buy or sell a
security. Furthermore, the author does not currently own this
security. Trading involves risk, including possible loss of principal
and other losses.
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