This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
OmniVision Technologies (
OVTI) designs, develops and markets semiconductor image-sensor devices. This stock closed up 9.4% at $18.38 in Monday's trading session.
Monday's Volume: 3.66 million
Three-Month Average Volume: 1.27 million
Volume % Change: 282%
>>4 Huge Stocks on Traders' Radars
From a technical perspective, OVTI exploded sharply higher here right above some near-term support level at $16.50 to $16 and back above its 50-day moving average of $17.48 with strong upside volume. This move also pushed shares of OVTI into breakout territory, since the stock took out some near-term overhead resistance levels at $17.55 to $18. Shares of OVTI are now quickly moving within range of triggering another big breakout trade. That trade will hit if OVTI manages to take out more near-term resistance at $18.94 with high volume.
Traders should now look for long-biased trades in OVTI as long as it's trending above its 50-day at $17.48 and then once it sustains a move or close above $18.94 with volume that's near or above 1.27 million shares. If that breakout hits soon, then OVTI will set up to re-test or possibly take out its 52-week high at $20.48. Any high-volume move above $20.48 will then put its next major overhead resistance levels at $21.11 to $22 into range for shares of OVTI.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.