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>>5 Stocks Insiders Love Right Now
From a technical perspective, TEU trended modestly higher here right above its 50-day moving average at $3.91 with decent upside volume. This stock has been downtrending badly for the last six months, with shares dropping sharply from its high of $6 to its recent low of $3.51. The downside volatility for TEU recently stopped after it hit that $3.51 low and the stock has now started to spike higher and move back above its 50-day. Shares of TEU are now quickly moving within range of triggering a major breakout trade. That trade will hit if TEU manages to take out some near-term overhead resistance at $4.19 to $4.50 with high volume.
Traders should now look for long-biased trades in TEU as long as it's trending above some near-term support at $3.90 and then once it sustains a move or close above those breakout levels with volume that hits near or above 145,186 shares. If that breakout triggers soon, then TEU will set up to re-test or possibly take out its next major overhead resistance levels at $4.75 to $5.03. Any high-volume move above $5.03 will then put its next major overhead resistance levels at $5.71 to $5.84 within range for shares of TEU.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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