(IXYS - Get Report) provides networking platform and solutions that enable utilities to transform the power grid infrastructure into the smart grid. This stock closed up 7% at $13.87 in Friday's trading session.
Friday's Volume: 510,000
Three-Month Average Volume: 81,087
Volume % Change: 627%
>>The Case for a Correction in Stocks
From a technical perspective, IXYS ripped sharply higher here and broke out into new 52-week-high territory with monster upside volume. This stock has been uptrending strong for the last four months, with shares moving higher from its low of $9.31 to intraday high of $13.99. During that uptrend, shares of IXYS have been consistently making higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in IXYS as long as it's trending above Fridays low of $12.96 and then once it sustains a move or close above its new 52-week high at $13.99 with volume that's near or above 81,087 shares. If we get that move soon, then IXYS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $16 to $17.
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