Traders should now look for long-biased trades in CYCC as long as it's trending above today's low of $5.15 and then once it sustains a move or close above those breakout levels with volume that hits near or above 322,805 shares. If that breakout hits soon, then CYCC will set up to re-test or possibly take out its next major overhead resistance levels at $7.50 to $8.18.
(RMBS - Get Report)
is a technology licensing company that's focused on the design, development and licensing of chip interface technologies and architectures that are foundational to nearly all digital electronics products. This stock is trading up 8.2% to $5.53 in recent trading.
Today's Range: $5.20-$5.66
52-Week Range: $3.78-$8.59
Volume: 1.40 million
Three-Month Average Volume: 559,145
From a technical perspective, RMBS is skyrocketing here right off some near-term support at $5.20 with monster upside volume. This move has started to push RMBS into breakout territory, since the stock has cleared some near-term overhead resistance levels at $5.25 to $5.34. Shares of RMBS are now quickly moving within range of triggering another major breakout trade. That trade will hit once RMBS clears some past overhead resistance levels at $5.69 to $6.10 and then once it clears more resistance at $6.18 with high volume.
Traders should now look for long-biased trades in RMBS as long as it's trending above those first tier breakout levels at $5.25 to $5.34, and then once it sustains a move or close above those second tier breakout levels with volume that hits near or above 559,145 shares. If that breakout triggers soon, then RMBS will set up to re-test or possibly take out its next major overhead resistance levels at $6.96 to $8.
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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