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DIOD) is a manufacturer and supplier of application-specific standard products within the broad discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. This stock closed up 2.2% at $25.08 on Friday.
Friday's Volume: 746,000
Average Volume: 282,829
Volume % Change: 145%
>>3 Hot Stocsk to Trade (or Not)
From a technical perspective, DIOD trended notably higher here right above some near-term support at $23.50 with above-average volume. This move is quickly pushing shares of DIOD within range of triggering a near-term breakout trade. That trade will hit if DIOD manage to take out its 52-week high at $25.49 with high volume.
Traders should now look for long-biased trades in DIOD as long as it's trending above $24.50 or above $23.50, and then once it sustains a move or close above its 52-week high at $25.49 with volume that hits near or above 282,829 shares. If that breakout hits soon, then DIOD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $27.50 to $30. Any high-volume move above those levels will then put its three-year high at $34.67 into range for shares of DIOD.