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>>5 Stocks Under $10 Set to Soar
From a technical perspective, OTEX trended modestly higher here right above some near-term support levels at $66 to $64.47 with above-average volume. This move is starting to push shares of OTEX within range of triggering a near-term breakout trade. That trade will hit if OTEX manages to take out its 50-day moving average at $69.63 with high volume.
Traders should now look for long-biased trades in OTEX as long as it's trending above $66 or $65 and then once it sustains a move or close above its 50-day at $69.63 with volume that hits near or above 225,916 shares. If that breakout triggers soon, then OTEX will set up to re-test or possibly take out its next major overhead resistance levels at $72.44 to its 52-week high at $73.77.
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