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Echelon(ELON - Get Report) develops, markets, and supports energy control networking solutions worldwide. This stock is trading up 6.4% at $4.49 in recent trading.
Today's Range: $4.19-$4.56
52-Week Range: $4.16-$10.72
Three-Month Average Volume: 161,811
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From a technical perspective, ELON is bouncing big right off its
52-week low of $4.16 with decent volume.
Traders should only look for long-biased trades in ELON if this stock can manage to trigger a near-term breakout above $4.75 with volume. Look for a sustained move and close over $4.75 with volume that's near or greater than 161,811 shares. If we get that action soon, then ELON could quickly tag its 50-day moving average at $5.16 or its next major overhead resistance level at $5.48 in the near future.
I would avoid any long trades in ELON as long as this stock is trading below $4.75.