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Central European Media Enterprises (
CETV) is a media and entertainment company that operates broadcast, content, and new media businesses in central and Eastern Europe. This stock is trading up 4.7% to $3.55 in recent trading.
>>5 Stocks Under $10 Set to Soar
From a technical perspective, CETV is trending sharply higher here back above its 50-day moving average at $3.47 with lighter-than-average volume. This move is quickly pushing shares of CETV within range of triggering a major breakout trade, which will hit if CETV manages to take out some near-term overhead resistance levels at $3.51 to $3.66 and then once it clears more key resistance at $3.89 with high volume. At last check, CETV has hit an intraday high of $3.58 and volume is well below its three-month average action of 711,930 shares.
Traders should now look for long-biased trades in CETV as long as it's trending above its 50-day at $3.47 or above some more key near-term support at $3.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 771,930 shares. If that breakout triggers soon, then CETV will set up to re-test or possibly take out its next major overhead resistance levels at $4.45 to $4.68. Any high-volume move above those levels will then put its next major overhead resistance levels at $4.75 to $5 into range for shares of CETV.
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 Madison, Wis.
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