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>>5 REITs Income Investors Love
From a technical perspective, PFMT soared higher here right off both its 200-day moving average of $11.02 and its 50-day moving average at $11.06 with decent upside volume. This move is quickly pushing shares of PFMT within range of triggering a major breakout trade. That trade will hit if PFMT manages to take out some near-term overhead resistance levels at $12.47 to $13.26 with high volume.
Traders should now look for long-biased trades in PFMT as long as it's trending above its 200-day at $11.02 and then once it sustains a move or close above those breakout levels with volume that's near or above 261,916 shares. If that breakout hits soon, then PFMT will set up to re-test or possibly take out its all-time high at $14.09. Any high-volume move above $14.09 will then give PFMT a chance to trend north of $15.