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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV