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CAMT), together with its subsidiaries, designs, develops, manufactures, and markets automatic optical inspection systems and related products.. This stock is trading up 7.8% to $2.46 in recent trading.
Shares of CAMT are soaring higher today after Chardan Capital Markets upgraded the stock to buy from hold and raised its price target to $3 from $2.
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From a technical perspective, CAMT is ripping higher here right above some near-term support at $2.12 with above-average volume. This move is quickly pushing shares of CAMT within range of triggering a major breakout trade. That trade will hit if CAMT manages to take out some key overhead resistance levels at $2.65 to $2.81 with high volume.
Traders should now look for long-biased trades in CAMT as long as it's trending above some near-term support at $2.12 and then once it sustains a move or close above those breakout levels with volume that hits near or above 60,328 shares. If that breakout triggers soon, then CAMT will set up to re-test or possibly take out its next major overhead resistance levels at $3.50 to $4.