Elephant Talk Communications

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

Get Adobe Flash player

Elephant Talk Communications ( ETAK) provides Internet, telephony and data communications software services to both mobile phone companies and businesses. This stock is trading up 10% to $1.21 in recent trading.

Today's Range: $1.14-$1.22

52-Week Range: $2.10-$4.15

Volume: 258,000

Three-Month Average Volume: 226,025

From a technical perspective, ETAK is ripping higher here right above its 50-day moving average of $1.08 with above-average volume. This move is quickly pushing shares of ETAK within range of triggering a near-term breakout trade. That trade will hit if ETAK manages to take out some near-term overhead resistance levels at $1.23 to $1.24 and then once it clears more resistance at $1.30 with high volume.

Traders should now look for long-biased trades in ETAK as long as it's trending above its 50-day at $1.08, and then once it sustains a move or close above those breakout levels with volume that hits near or above 226,025 shares. If that breakout hits soon, then ETAK will set up to re-test or possibly take out its next major overhead resistance levels at $1.48 to $1.58. Any move above $1.58 will then put $1.64 to $1.89 into range for shares of ETAK.

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