On Track Innovations
On Track Innovations (OTIV) designs, develops and markets secure contactless microprocessor-based smart card technology. This stock is trading up 10% at $1.61 in recent trading.
Today's Range: $1.48-$1.7352-Week Range: $1.00-$3.22 Volume: 553,000 Three-Month Average Volume: 107,290 Shares of OTIV are ripping higher today after the company said it has filed a patent infringement lawsuit in the U.S. against mobile service provider T-Mobile. From a technical perspective, OVTI is flirting with a big breakout trade today now that it's challenging some near-term overhead resistance at $1.62 with heavy volume. Traders should only look for long biased trades if OVTI can continue to trend above $1.62 with strong volume flows. If we continue to get that action, then look for OVTI to challenge its next significant overhead resistance levels at $1.82 to $2.20 in the near future. I would consider it bullish for future prices of OVTI can close near its daily highs today.
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