Altair Nanotechnologies (ALTI) develops, manufactures and sells nano lithium titanate batteries and energy storage systems primarily in the U.S. and China. This stock closed up 5.8% to $5.46 in Tuesday's trading session.
Tuesday's Range: $5.20-$5.60
52-Week Range: $2.02-$8
Tuesday's Volume: 150,000
Three-Month Average Volume: 132,121
From a technical perspective, ALTI ripped sharply higher here with above-average volume. This stock has been uptrending strong for the last few weeks, with shares moving higher from its low of $3.51 to its intraday high of $5.60. During that uptrend, shares of ALTI have been consistently making higher lows and higher highs, which is bullish technical price action. That move is now pushing shares of ALTI within range of triggering a major breakout trade. That trade will hit if ALTI manages to take out Tuesday's high of $5.60 to some more key overhead resistance at $6.19 with high volume.Traders should now look for long-biased trades in ALTI as long as it's trending above Thursday's low of $5.20 or above $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 132,121 shares. If that breakout triggers soon, then ALTI will set up to re-test or possibly take out its next major overhead resistance levels at $7.50 to its 52-week high at $8. To see more stocks that are making notable moves higher, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.
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