Traders should now look for long-biased trades in LINC as long as it's trending above $3.63 to $3.97, and then once it sustains a move or close above those breakout levels with volume that hits near or above 114,990 shares. If that breakout triggers soon, then LINC will set up to re-test or possibly take out its next major overhead resistance levels at $4.76 to $4.85. Any high-volume move above those levels will then put $5.25 to $6 into focus for shares of LINC.
This is a global provider of mobile marketing and advertising technology and solutions. This stock is trading up 6.6% to $3.38 in recent trading.
Today's Range: $3.15-$3.4552-Week Range: $3.07-$14.65 Volume: 1.97 million Three-Month Average Volume: 1.45 million From a technical perspective, VELT is ripping higher here right above some near-term support at $3.07 with above-average volume. This move is also coming off extremely oversold levels, since VELT currently has a relative strength index (RSI) reading of 22.21. Oversold can always get more oversold, but it's also a level that can produce explosive bounces higher once the buyers step in with force. Judging by the volume today, those buyers are starting to come into VELT at current oversold levels. Traders should now look for long-biased trades in VELT as long as it's trending above its recent low of $3.07 with strong upside volume flows. I would consider any upside volume day that registers near or above 1.45 million shares as bullish. If VELT can maintain that trend, then this stock could easily bounce back towards its next major overhead resistance levels at $3.73 to $4. Any high-volume move above those levels will then put $4.50 to $5.25 into focus for shares of VELT. To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Winderemere, Fla.
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