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Novatel Wireless(NVTL) is a provider of wireless solutions for the worldwide mobile communications markets. This stock is trading up 5.6% to $2.03 in recent trading.
Today's Range: $1.94-$2.08
52-Week Range: $1.79-$4.42
Three-Month Average Volume: 113,955
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From a technical perspective, NVTL is bouncing solidly here right off some near-term support at $1.90 with above-average volume. This move is quickly pushing NVTL within range of triggering a near-term breakout trade. That trade will hit once NVLT manages to take out some near-term overhead resistance levels at $2.07 to $2.14 with high volume.
Traders should now look for long-biased trades in NVTL as long as it's trending above $1.87, and then once it sustains a move or close above those breakout levels with volume that's near or above 113,955 shares. If that breakout triggers soon, the NVTL will have a great chance to re-test or possibly take out its 200-day moving average at $2.68.