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Ultralife(ULBI) offers products and services ranging from portable and standby power solutions to communications and electronics systems. This stock is trading up 3.8% at $2.89 in recent trading.
Today's Range: $2.73-$3.14
52-Week Range: $2.40-$5.50
Three-Month Average Volume: 30,508
From a technical perspective, ULBI is moving higher here with above average volume. This move is coming after the stock plunged from over $5 to its recent low of $2.39 during the last six months. Once ULBI hit $2.39 yesterday, the stock saw a strong uptick in volume, which could be signaling that traders are positioning for an oversold bounce.
Traders should now look for long-biased trades in ULBI off weakness as long as it holds today's low of $2.73. If that low holds, look for ULBI to trigger its next major breakout above $3.25 and then above its 50-day moving average of $3.39 with high volume. Look for a sustained move or close above those levels with volume that's near or above 30,508 shares. If that breakout triggers soon, then ULBI will have a great chance of trading back towards its next significant overhead resistance level at its 200-day moving average of $4.27.