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Universal Display(PANL) is engaged in the research, development and commercialization of organic light emitting diode technologies and materials. This stock is trading up 2.2% at $40.40 in recent trading.
Today's Volume: 965,000
Average Volume: 1 million
Volume % Change: 50%
Shares of PANL are moving modestly higher today after Wedbush upgraded the stock from neutral to outperform.
From a technical perspective, PANL is bouncing here right near its 200-day moving average of $38.09 with decent volume. This move has briefly pushed PANL into breakout territory, since it's moved above some past overhead resistance at $40.76. At last check, PANL has hit an intraday high of $40.97, but it has since then pulled back to around $40.40.
Traders should now look for long-biased trades in PANL as long as it's trending above its 200-day at $38.09, and then once it sustains a move or close above $40.76 with high volume. Look for volume on that move that hits near or above 1 million shares. If that breakout triggers soon, then look for PANL to re-test or possibly take out its next major overhead resistance level at $45.70.