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SUNE) is a semiconductor and solar technology company that provides technology solutions to corporations, utilities, governments and chip manufacturers to transform lives around the world. This stock is trading up 5.7% to $7.96 in recent trading.
Today's Range: $7.64-$7.98
52-Week Range: $1.68-$8.91
Volume: 1.26 million
Three-Month Average Volume: 6.91 million
>>5 Stocks Poised for Breakouts
From a technical perspective, SUNE is ripping higher here right above some near-term support at $7.27 with lighter-than-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $3.95 to its recent high of $8.91. During that uptrend, shares of SUNE have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SUNE within range of triggering a near-term breakout trade. That trade will hit if SUNE manages to take out some near-term overhead resistance levels at $8.30 to its 52-week high at $8.91 with high volume.
Traders should now look for long-biased trades in SUNE as long as it's trending above some key near-term support at $7.27 or above its 50-day at $6.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.91 million shares. If we get that breakout, then SUNE will set up to enter new 52-week-high territory above $8.91, which is bullish technical price action. Some possible upside targets off that breakout are $10 to $12.
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