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Neonode(NEON - Get Report) develops and licenses the next generation of MultiSensing user interfaces and optical multi-touch solutions for consumer brands. This stock is trading up 5.2% to $4.81 in recent trading.
Today's Range: $4.61-$4.95
52-Week Range: $2.85-$7.40
Three-Month Average Volume: 210,526
From a technical perspective, NEON is spiking higher here right off its 50-day moving average of $4.30 with lighter volume. This move is quickly pushing shares of NEON within range of triggering a major breakout trade. That trade will hit if NEON manages to clear some key overhead resistance levels at $5.24 to $5.30 and then once it takes out more resistance at $5.59 with high volume.
Traders should now look for long-biased trades in NEON as long as it's trending above its 50-day at $4.30, and then once it sustains a move or close above those breakout levels with volume that hits near or above 210,526 shares. If that breakout hits soon, then NEON will set up to re-test or possibly take out its next major overhead resistance levels $6.50 to $7.