Traders should now look for long-biased trades in SORL as long as it's trending above its 50-day at $2.19, and then once it sustains a move or close above those breakout levels with volume that hits near or above 47,486 shares. If that breakout triggers soon, then SORL will set up to re-test or possibly take out its next major overhead resistance levels at $3.20 to $3.50. Any high-volume move above $3.50 would then put $3.64 into focus for shares of SORL.
China Precision Steel
This company is engaged in the manufacturing and sale of cold-rolled steel products and in the provision of heat treatment and cutting of medium and high carbon hot-rolled steel strips. This stock is trading up 12.7% to $2.03 in recent trading.
Today's Range: $1.80-$2.12
52-Week Range: $0.20-$3.62
Three-Month Average Volume: 14,276
From a technical perspective, CPSL is soaring higher here right above its 50-day moving average of $1.69 with above-average volume. This stock has been uptrending strongly for the last month and change, with shares moving higher from a low of $1.30 to its recent high of $2.12. During that move, shares of CPSL have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed CPSL within range of triggering a major breakout trade. That trade will hit once CPSL clears some near-term overhead resistance at $2.20 with high volume.
Traders should now look for long-biased trades in CPSL as long as it's trending above its 50-day at $1.69, and then once it sustains a move or close above $2.20 with volume that hits near or above 14,276 shares. If that breakout hits soon, then CPSL will set up to re-test or possibly take out its next major overhead resistance levels at $2.60 to its 200-day at $3.21. Any high-volume move above $3.21 will then put $3.30 to $3.62 into focus for shares of CPSL.
This is a molecular diagnostics company focused on developing and commercializing its proprietary eSensor detection technology. This stock is trading up 3.9% to $9.58 in recent trading.