Acacia On Track For 15% Gain This Week

Acacia Communications, Inc. ACIA shares are trading higher by $2.77 (6.6 percent) at $44.95 in Friday's session.

In a week with very little news out on it, the stock has quietly added 12 percent with half of that gain coming in today's session. From last Friday's close of $39.00, it has crossed into the $45.00 handle in today's session.

After a flat open, Acacia immediately found support just under Thursday's close ($42.18) at $41.80 and began to move higher. At this time, it has surpassed the pair of highs just under $45.00 from late June, so far reaching $45.17.

If the rally continues, there may additional resistance in the $45 handle at its June 20 ($45.35) and June 19 highs ($45.70). The latter day was the last time it closed over $45.00, when it ended that session at $45.10.