Oclaro (OCLR - Get Report) provides high-performance core optical network components, modules and subsystems to global telecommunications equipment manufacturers. This stock is trading up 5.8% to $2.91 in recent trading.
Today's Range: $2.75-$2.9552-Week Range: $2.11-$5.10 Volume: 778,000 Three-Month Average Volume: 579,452 >>4 Chip Stocks Apple Fans Should Love From a technical perspective, OCLR is bouncing solidly here right near its 50-day moving average of $2.61 with above-average volume. This move has pushed OCLR into breakout territory, since the stock has started to push above some near-term overhead resistance levels at $2.80 to $2.83. Traders should now look to play the next major breakout for OCLR. That breakout will hit once OCLR takes out some near-term overhead resistance levels at $3.10 to $3.15, and then when it clears its 200-day moving average of $3.26 with high volume. Traders should look for long-biased trades as long as OCLR is trending above $2.75 and then once it sustains a move or close above those breakout levels with volume that's near or above 579,452 shares. If that breakout hits soon, then OCLR will have an excellent chance of hitting $3.75 to $4 in the near future.
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