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OCZ Technology Group(OCZ) provides solid state drives and memory modules for computing devices and systems. It develops flexible and customizable component solutions quickly and efficiently to meet the ever changing market needs. This stock closed up 4.9% to $1.99 on Wednesday.
Wednesday's Range: $1.93-$2.04
52-Week Range: $1.11-$10.05
Volume: 3.04 million
Three-Month Average Volume: 2.40 million
From a technical perspective, OCZ ripped higher Wednesday right above some near-term support at $1.83 with above-average volume. This move is quickly pushing shares of OCZ within range of triggering a major breakout trade. That trade will hit if OCZ manages to take out some key overhead resistance levels at $2.19 to $2.27 with high volume.
Traders should now look for long-biased trades in OCZ as long as it's trending above its 50-day at $1.74, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.40 million shares. If that breakout hits soon, then OCZ will set up to re-fill some of its previous gap down zone from last October that started near $3.30.