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RMBS) develops world-changing products and services in security, advanced LED lighting and displays, and immersive mobile media. This stock closed up 2.2% to $8.83 in Thursday's trading session.
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From a technical perspective, RMBS trended modestly higher here right above some near-term support at $8.38 with lighter-than-average volume. This stock recently came out of a sharp downtrend, which took the stock from $10.85 to $7.95. Shares of RMBS now look to have put an end to its downside volatility in the short-term, since the stock has reversed course and entered a moderate uptrend over the last few weeks. That move is now pushing shares of RMBS within range of triggering a near-term breakout trade. That trade will hit if RMBS manages to take out its 50-day at $9.14 and then once it clears more resistance at $9.17 with high volume.
Traders should now look for long-biased trades in RMBS as long as it's trending above support at $8.38 or at $7.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 964,248 shares. If that breakout hits soon, then RMBS will set up to re-test or possibly take out its next major overhead resistance levels at $10 to its 52-week high at $10.85.