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LDK Solar(LDK), a solar module manufacturer, sells multicrystalline and monocrystalline wafers globally to manufacturers of solar cells and modules. This stock is trading up 7.6% to $1.98 in recent trading.
Today's Range: $1.77-$2.02
52-Week Range: $0.71-$6.80
Volume: 3.13 million
Three-Month Average Volume: 2.54 million
From a technical perspective, LDK is showing a continuation move here with above-average volume after the stock exploded off its 50-day moving average of $1.59 two trading sessions ago. This move is quickly pushing shares of LDK within range of triggering a major breakout trade. That trade will hit if LDK manages to take out some near-term overhead resistance levels at $2.10 to $2.32 and then once it clears some past resistance at $2.36 with high volume.
Traders should now look for long-biased trades in LDK as long as it's trending above its 50-day at $1.59 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.54 million shares. If that breakout hits soon, then LDK will set up to re-test or possibly take out its next major overhead resistance levels at $3 to $3.34.