Camtek (CAMT - Get Report) designs, manufactures, and markets cardiology instrument control system in the United States and internationally. This stock closed up 8.2% to $4.87 in Thursday's trading session.
Thursday's Range: $4.40-$4.99
52-Week Range: $1.31-$6.43
Thursday's Volume: 1.98 million
Three-Month Average Volume: 2.08 million
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From a technical perspective, CAMT spiked sharply higher here and broke out above some near-term overhead resistance at $4.85 with decent upside volume. This move is quickly pushing shares of CAMT within range of triggering a major breakout trade. That trade will hit if CAMT manages to take out Thursday's high of $4.99 to some more near-term overhead resistance at $5.14 with high volume.
Traders should now look for long-biased trades in CAMT as long as it's trending above Tuesday's low of $4.40 or above more near-term support at $4 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.08 million shares. If that breakout hits soon, then CAMT will set up to re-test or possibly take out its next major overhead resistance levels at $5.5 to its 52-week high at $6.43.