Ballantyne Strong (BTN) designs, develops, manufactures, services and distributes theatre and lighting systems. This stock closed up 3.2% to $3.47 on Wednesday.
Wednesday's Range: $3.38-$3.5852-Week Range: $3.09-$6.48 Volume: 163,000 Three-Month Average Volume: 62,825 From a technical perspective, BTN ripped higher Wednesday right above its 50-day moving average of $3.31 with above-average volume. This stock has been uptrending modestly for the last two months, with shares moving higher from its low of $3.09 to its intraday high of $3.58. During that move, shares of BTN have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed BTN within range of triggering a near-term breakout trade. That trade will hit if BTN manages to take out some near-term overhead resistance levels at $3.56 to $3.60 with high volume. Traders should now look for long-biased trades in BTN as long as it's trending above its 50-day at $3.31, and then once it sustains a move or close above those breakout levels with volume that hits near or above 62,825 shares. If that breakout hits soon, then BTN will set up to re-test or possibly take out its next major overhead resistance levels at $3.90 to $4.13. Any high-volume move above those levels will then put $4.20 to $4.50 into focus for shares of BTN.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV