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LDK Solar(LDK) is a vertically integrated manufacturer of Photovoltaic (PV) products. This stock is trading up 4.9% to $1.90 in recent trading.
Today's Range: $1.54-$1.91
52-Week Range: $1.76-$7.68
Volume: 2.6 million
Three-Month Average Volume: 1.6 million
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From a technical perspective, LDK is moving notably higher here on above average volume. This move is coming off of extremely oversold territory, since its current relative strength index reading is 26.18. If large traders are done selling LDK, then this stock could potentially be preparing for a sharp bounce off these oversold conditions.
Traders should now look for long-biased trades if LDK can manage to close near its daily highs. At last check, LDK has hit an intraday high of $1.95 and volume is well above its three-month average action. If we get that action, then look for LDK to take out its next major overhead resistance level at $2.30 to $2.60 to confirm it wants to trend much higher. Some possible targets are $3.10 to its 50-day moving average of $3.24 if we get that large bounce soon.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.