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Nam Tai Electronics(NTE) is an electronics manufacturing and design services provider to a select group of telecommunications and consumer electronic products original equipment manufacturers. This stock is trading up 5.1% at $11.44 in recent trading.
Today's Volume: 1 million
Average Volume: 647,269
Volume % Change: 328%
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From a technical perspective, NTE is ripping to the upside here right off some near-term support at $10.50 with above-average volume. This move now has NTE flirting with a big breakout, since the stock has challenged some near-term overhead resistance levels at $11.23 to $11.39. At last check, NTE has hit an intraday high of $11.75 and volume is well above its three-month average action of 647,269 shares.
Traders should now look for long-biased trades in NTE as long as it's trending above $10.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 647,269 shares. If NTE can continue to trend above $11.23 to $11.39, then this stock has a great chance to re-test or take out its next major overhead resistance level at $13.