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>>5 Stocks Ready to Break Out
From a technical perspective, BITA trended modestly higher here right above some near-term support at $14 with heavy upside volume. This move is quickly pushing shares of BITA within range of triggering a major breakout trade. That trade will hit if BITA manages to take out some near-term overhead resistance levels at $15.75 to $15.80 with high volume.
Traders should now look for long-biased trades in BITA as long as it's trending above some near-term support at $14 or $13 and then once it sustains a move or close above those breakout levels with volume that's near or above 191,020 shares. If that breakout hits soon, then BITA will set up to re-test or possibly take out its 52-week high at $18.10. Any high-volume move above $18.10 will then give BITA a change to tag and trend north of $20.