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Another name in the technology complex that insiders are jumping into here is
Support.com(SPRT - Get Report), a provider of online care for the digital home and small business. Its technology support services and software products help install, set up, connect, secure, repair and optimize personal computers, printers and tablets. Insiders are buying this stock into big time strength, since shares are up 48% during the last six months.
Support.com has a market cap of $212 million and an enterprise value of $143 million. This stock trades at a cheap valuation, with a forward price-to-earnings of 13.45. Its estimated growth rate for this year is 900%, and for next year it's pegged at 60%. This is a cash-rich company, since the total cash position on its balance sheet is $56.35 million and its total debt is zero.
A beneficial owner just
bought 150,000 shares, or $615,000 worth of stock, at $4.10 per share.
From a technical perspective, SPRT is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been stuck in a consolidation trading pattern for the last three months, with shares moving between $4.58 on the upside and $3.91 on the downside. A high-volume move above the upper end of that sideways chart pattern could trigger a major breakout trade for shares of SPRT.
If you're in the bull camp on SPRT, then look for long-biased as long as it's trending above $3.91 or $3.75, and then once it manages to break out above some near-term overhead resistance levels at $4.44 to $4.58 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 166,562 shares. If that breakout triggers soon, then SPRT will set up to re-test or possibly take out its next major overhead resistance level at $4.95 a share. Any high-volume move above $4.95 will then put $6 into range for shares of SPRT.