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Universal Display(PANL) is engaged in the research, development and commercialization of organic light emitting diode technologies and materials. This stock is trading up 1.6% at $34.52 in recent trading.
Today's Volume: 788,000
Average Volume: 870,232
Volume % Change: 50%
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From a technical perspective, PANL is bouncing modestly higher here right near some previous support at $32.88 with decent volume. This move is quickly pushing PANL within range of triggering a near-term breakout trade. That trade will hit once PANL manages to take out some near-term overhead resistance at $35.28 with high volume.
Traders should now look for long-biased trades in PANL once it manages to sustain a move or close above $35.28 with volume that hits near or above 870,232 shares. If that breakout triggers soon, then look for PANL to re-test or possibly take out its 200-day at $37.39 and its 50-day at $38.38. Keep in mind that PANL has the potential for a large bounce if it breaks out soon, since this stock is coming off of oversold territory. Its current RSI reading is 34, which indicates an oversold condition.