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OCZ Technology (
OCZ) provides solid state drives and memory modules for computing devices and systems. This stock closed up 2.7% to $1.52 on Thursday.
Thursday's Range: $1.49-$1.55
52-Week Range: $1.11-$7.67
Volume: 1.03 million
Three-Month Average Volume: 1.32 million
>>5 Stocks Under $10 Set to Soar
From a technical perspective, OCZ bounced higher here right above its 50-day moving average at $1.37 with decent upside volume. This move is quickly pushing shares of OCZ within range of triggering a near-term breakout trade. That trade will hit if OCZ manages to take out some near-term overhead resistance levels at $1.57 to $1.70 with high volume.
Traders should now look for long-biased trades in OCZ as long as it's trending above its 50-day at $1.37 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.32 million shares. If that breakout triggers soon, then OCZ will set up to re-test or possibly take out its 200-day moving average at $1.89 or its next major overhead resistance levels at $2.16 to $2.28. Any high-volume move above those levels will then put its next major overhead resistance levels at $2.77 into range for shares of OCZ.