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>>5 Surprise Stocks the Pros Love Right Now
From a technical perspective, ROIAK ripped higher here back above its 50-day moving average of $2.27 with above-average volume. This stock recently formed a triple bottom chart pattern at $2.10, $2.11 and $2.07. Following that bottom, shares of ROIAK have started bounce sharply higher and move within range of triggering a major breakout trade. That trade will hit if ROIAK can manage to take out some near-term overhead resistance levels at $2.46 to its 52-week high at $2.66 with high volume.
Traders should now look for long-biased trades in ROIAK as long as it's trending above some near-term support levels at $2.10 to $2.07 and then once it sustains a move or close above those breakout levels with volume that hits near or above 112,595 shares. If that breakout triggers soon, then ROIAK will set up to enter new 52-week-high territory above $2.66, which is bullish technical price action. Some possible upside targets off that breakout are $3 to $4.