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FDML) is a supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. This stock is trading up 1.5% to $9.80 in recent trading.
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From a technical perspective, FDML is trending modestly higher here right above some near-term support at $9.32 to $9.18 with lighter-than-average volume. This stock has been trending sideways for the last month and change, with shares moving between $8.91 on the downside and $10.67 on the upside. Shares of FDML are now starting to move within range of trigger a breakout trade above the upper end of its recent sideways chart pattern. That trade will hit if FDML clears some near-term overhead resistance levels at $10 to $10.67 with high volume.
Traders should now look for long-biased trades in FDML as long as it's trending above some key near-term support at $9.32 or above more support at $9.18 to $8.91, and then once it sustains a move or close above those breakout levels with volume that hits near or above 272,323 shares. If that breakout triggers soon, then FDML will set up to re-test or possibly take out its next major overhead resistance levels at $11.35 to $11.79. Any high-volume move above those levels will then put $12 to $13 into range for shares of FDML.
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