Nimble Storage Inc NMBL shares are trading higher by $0.39 (5 percent) at $8.49 in Thursday's session. The catalyst for the rally is an upgrade at Wells Fargo.
The upgrade had aided the issue to extend its two-day winning streak. The issue has traded higher in four of its last six sessions, with the two outliers being a few penny losses.
Its opening print of $8.26 has held up as the low for the session. The continuation rally has taken the issue to $8.58 and it's not far off the level. The current high coincides with a trio of highs from September 6-8, from $8.48 to $8.50.
If the rally continues, there may be additional resistance at its August 30 high of $8.79.
Today's price action is taking place on higher than average volume. With five hours remaining in the session, already 1 million shares have changed hands compared its with 20-day average of 1 million.
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