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Sunlands Technology Group (NYSE: STG) shares were trading on increased volume in Thursday’s session.
No company-specific news is evident to explain the increase in volume. The average volume of Sunlands Tech is 1.14 million shares traded.
The amount of shares traded in Thursday’s trading session as of 12:20 p.m. ET is 12.4 million shares. Some potential technical levels are shown below.
Sunlands Technical Levels To Watch: The 15-minute chart below shows a potential resistance level at the $1.40 price level.
In the past, the price did not fall below this level, and it's now a level that it is struggling to move above.
Bullish technical traders would like to see the price cross above this potential resistance level, with consolidation before the next upward move is possible.
Another potential support level is the $1 mark. The $1 price level has acted as support previously on the 15-minute chart above and on the daily chart below.
The daily chart above shows a possible longer-term support at the $1 level. The level has acted as support previously throughout the year.
A speculative level of resistance may be placed around the $2 level. The price has previously been unable to cross the $2 level, and it is a psychological resistance level for many traders, as it is a round number.
The bullish technical trader would like to see the price build up to the resistance level and eventually break through and consolidate above.
After a consolidation period for some time, the stock may make another powerful upwards move. The bearish technical trader would like to see the stock fail to break the resistance point and fall to support before breaking through the support levels as well.
A break through support with some consolidation below may potentially send the stock on a further downwards move.
Sunlands Technology has a market cap of $200 million with a public float of 38.38 million shares.
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