(ELON - Get Report)
develops markets and supports an open standard, multi-application energy control networking platform. This stock is trading up 6.1% to $2.84 in recent trading.
Today's Range: $2.70-$2.84
52-Week Range: $2.07-$5.48
Three-Month Average Volume: 129,656
From a technical perspective, ELON is spiking higher here right above its 50-day moving average of $2.49 with lighter-than-average volume. This move is quickly pushing shares of ELON within range of triggering a major breakout trade. That trade will hit if ELON manages to clear some near-term overhead resistance levels at $2.90 to $3.10 and then once it takes out its 200-day moving average of $3.12 with high volume.
Traders should now look for long-biased trades in ELON as long as it's trending above its 50-day at $2.49, and then once it sustains a move or close above those breakout levels with volume that hits near or above 129,656 shares. If that breakout triggers soon, then ELONG will set up to re-test or possibly take out its next major overhead resistance levels at $3.58 to $3.80. Any high-volume move above $3.80 will then put $4 to $4.20 into range for shares of ELON.
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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