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KIT Digital(KITD), through its operating subsidiaries, provides enterprise clients an end-to-end technology platform for managing IP-based video assets across the browser, mobile device and Internet protocol television set-top box-enabled television set. This stock is trading up 6.7% at $7.62 in recent trading.
Today's Range: $7.00-$7.85
52-Week Range: $5.93-$12.73
Three-Month Average Volume: 1.2 million
Shares of KITD are soaring today after the company announced that its non-executive chairman Kaleil Isaza Tuzman resigned, less than a month since the former chief executive had switched exclusively to the chairman role.
From a technical perspective, KITD is bouncing off of some previous support at around $6 today on decent volume. This move is now pushing KITD within range of triggering a near-term breakout trade. That trade will hit once KITD takes out some near-term overhead resistance at $8.16 with high-volume.
Traders should now look for long biased trades in KITD if it can manage to sustain a move and close above $8.16 with volume that's near or well above 1,228,510 shares. If we get that action soon, look for KITD to hit its 200-day moving average of $9.67 in the near future.
KIT Digital was included in a list of
13 Tech Stocks to Buy in 2012.