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Intevac(IVAC) provides process manufacturing equipment solutions to the hard disk drive industry and manufacturing equipment and inspection solutions to the photovoltaic industry. This stock is trading up 12.2% at $9.05 in recent trading.
Today's Range: $8.66-$9.35
52-Week Range: $6.11-$12.03
Three-Month Average Volume: 78,595
Shares of IVAC are skyrocketing today after Needham & Company reiterated its buy rating on the stock and its $10 price target.
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From a technical perspective, IVAC is gapping sharply higher here as the stock moves within range of triggering a major breakout trade. That trade will hit once IVAC can manage to sustain a high-volume move or close above some past overhead resistance at $9.25. At last check, IVAC has hit an intraday high of $9.36 on volume that's well above its average action.
Traders should now look for long-biased trades if IVAC is trending above $9.25 with volume that's near or well above 78,595 shares. If we get that action soon, look for IVAC to tag its next significant overhead resistance levels at $10.30 to $11 in the near future.