Traders should now look for long-biased trades in NVMI as long as it's trending above $8.88 to $8.80 and then once it sustains a move or close above $9.50 to $9.67 with volume that hits near or above 71,679 shares. If that breakout triggers soon, then NVMI will set up to re-test or possibly take out its next major overhead resistance levels at $10 to $11.50.
PokerTek (PTEK) is engaged in the development, manufacture and marketing of electronic table games and related products for casinos, cruise lines, racinos, card clubs and lotteries worldwide. This stock closed up 9.5% to $1.38 on Wednesday.
Wednesday's Range: $1.28-$1.3952-Week Range: $0.61-$1.65 Volume: 53,000 Three-Month Average Volume: 61,613 From a technical perspective, PTEK soared higher here right above its 50-day moving average at $1.19 with lighter-than-average volume. This move is quickly pushing shares of PTEK within range of triggering a near-term breakout trade. That trade will hit if PTEK manages to take out some near-term overhead resistance at $1.44 to $1.50 and then above more resistance at $1.65 with high volume. Traders should now look for long-biased trades in PTEK as long as it's trending above its 50-day at $1.19 and then once it sustains a move or close above those breakout levels with volume that hits near or above 61,613 shares. If that breakout hits soon, then PTEK will set up to re-test or possibly take out its next major overhead resistance levels at $1.82 to $2. Any high-volume move above those levels will then put $2 to $2.25 into range for shares of PTEK. 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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