NetSol Technologies (NTWK - Get Report) designs, develops, markets and exports software products primarily to the automobile finance and leasing, banking, health care and financial services industries worldwide. This stock closed up 1.9% to $5.90 in Tuesday's trading session.
Tuesday's Range: $5.75-$5.90
52-Week Range: $4.25-$14.01
Tuesday's Volume: 97,000
Three-Month Average Volume: 231,590
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From a technical perspective, NTWK bounced modestly higher here right above its 50-day moving average of $5.53 with lighter-than-average volume. This move is starting to push shares of NTWK within range of triggering a major breakout trade. That trade will hit if NTWK manages to take out Tuesday's high of $5.90 to some more near-term overhead resistance at $6.15 with high volume.
Traders should now look for long-biased trades in NTWK as long as its trending above its 50-day at $5.53 or above more support at $5 and then once it sustains a move or close above those breakout levels with volume that hits near or above 231,590 shares. If that breakout hits soon, then NTWK will set up to re-fill some of its previous gap-down-zone from last November that started at $7.50. Any high-volume move above $7.50 will then give NTWK a chance to tag its next major overhead resistance levels at $7.95 to $8.71.