Another stock in the communications equipment complex that's trading within range of triggering a major breakout trade is Ubiquiti Networks (UBNT), which offers a portfolio of wireless networking products and solutions, including systems, high-performance radios, antennas and management tools, designed for wireless networking and other applications in the unlicensed radio frequency spectrum. This stock has been destroyed by the bears during the last six months, with shares down by 65%.
If you look at the chart for Ubiquiti Networks, you'll notice that this stock recently gapped down huge from over $15 to below $9 a share with monster volume. Following that gap down, shares of UBNT went on to print a new 52-week low at $7.80 a share. That said, the stock has started to rebound off that low with decent upside volume, and it's now trending very close to breaking out and entering that gap down zone. If UBNT can sustain a move into that gap, then this stock could bet setting up to explode higher.
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 + 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