SGOCO Group

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

SGOCO Group ( SGOC), which is focused on developing its own brands and distribution in the Chinese flat panel display market, is trading up 13.7% to $1.32 in recent trading.

Today's Range: $1.16-$1.41

52-Week Range: $0.61-$3.78

Volume: 133,000

Three-Month Average Volume: 85,820

From a technical perspective, SGOC is ripping higher here right off its 50-day moving average of $1.13 with above-average volume. This stock recently formed a double bottom chart pattern at $1.12 prior to today's monster spike. Shares of SGOC are now moving within range of triggering a near-term breakout trade. That trade will hit if SGOC manages to take out some near-term overhead resistance levels at its 200-day of $1.38 and then above more resistance at $1.55 with high volume.

Traders should now look for long-biased trades in SGOC as long as it's trending above $1.12, and then once it sustains a move or close above those breakout levels with volume that hits near or above 85,820 shares. If that breakout triggers soon, then SGOC will set up to re-test or possibly take out its next major overhead resistance levels at $2.06 to $2.30.

If you liked this article you might like

5 Stocks Under $10 Set to Soar

Buyout Offer Spurs Surge For Perfect World Co. (PWRD)

3 Metals & Mining Stocks Driving The Industry Higher

3 Stocks Pushing The Metals & Mining Industry Lower