GT Advanced Technologies
An under-$10 name in the semiconductor complex that looks ready to trigger a sharp move higher is GT Advanced Technologies (GTAT), a global provider of polysilicon production technology and multicrystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry, and sapphire growth systems and material for the light emitting diode and other specialty markets. This stock has been pressured by the bears so far in 2012, with shares down by 33%.
If you take a look at the chart for GT Advanced Technologies, you'll notice that the sellers hammered this stock from its March high of $8.61 to its 52-week low of $3.92 a share hit in early June. During that nasty slide lower, shares of GT Advanced Technologies were consistently making lower highs and lower lows, which is bearish technical price action. That said, since tagging that low, shares of GTAT have started to reverse its downtrend and trade higher. That move has now pushed the stock within range of triggering a near-term breakout trade.
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