Ocean Power Technologies
Ocean Power Technologies (OPTT) develops and is commercializing systems that generate electricity by harnessing the renewable energy of ocean waves. This stock is trading up 9.4% at $2.18 in recent trading.
Today's Range: $1.99-$2.2052-Week Range: $2-$5.60 Volume: 58,000 Three-Month Average Volume: 32,477 From a technical perspective, OPTT is bouncing here off some previous support levels at around $2 with above average volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once OPTT takes out some near-term overhead resistance at $2.28, and then its 50-day moving average of $2.32 with high volume. >>4 Stocks the Pros Hate -- But You Should Love Traders should now look for long-biased trades if OPTT can sustain a move or close above those levels with volume that's near or above 32,477 shares. If we get that action soon, then OPTT could easily re-test its next significant overhead resistance levels at $2.80 to $2.99 in the near future.
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