Semiconductor Manufacturing International
Semiconductor Manufacturing International (SMI - Get Report) is an advanced foundry in Mainland China, providing integrated circuit foundry and technology services at 0.35-micron to 40-nanometer. This stock is trading up 5.1% to $2.85 in recent trading.
Today's Range: $2.83-$2.89
52-Week Range: $1.47-$3.42Volume: 140,000 Three-Month Average Volume: 193,402 From a technical perspective, SMI is bouncing higher here right above some near-term support at $2.71 with decent upside volume. This move is quickly pushing shares of SMI within range of triggering a major breakout trade. That trade will hit if SMI manages to take out some near-term overhead resistance levels at its 50-day moving average of $2.92 and then above more resistance levels at $2.96 to $3.10 with high volume. Traders should now look for long-biased trades in SMI as long as it's trending above $2.71, and then once it sustains a move or close above those breakout levels with volume that hits near or above 193,402 shares. If that breakout hits soon, then SMI will set up to re-test or possibly take out its next major overhead resistance level at $3.42. 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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