Ballantyne Strong

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Ballantyne Strong ( BTN) designs, develops, manufactures, services and distributes theatre and lighting systems. This stock closed up 3.2% to $3.47 on Wednesday.

Wednesday's Range: $3.38-$3.58

52-Week Range: $3.09-$6.48

Volume: 163,000

Three-Month Average Volume: 62,825

From a technical perspective, BTN ripped higher Wednesday right above its 50-day moving average of $3.31 with above-average volume. This stock has been uptrending modestly for the last two months, with shares moving higher from its low of $3.09 to its intraday high of $3.58. During that move, shares of BTN have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed BTN within range of triggering a near-term breakout trade. That trade will hit if BTN manages to take out some near-term overhead resistance levels at $3.56 to $3.60 with high volume.

Traders should now look for long-biased trades in BTN as long as it's trending above its 50-day at $3.31, and then once it sustains a move or close above those breakout levels with volume that hits near or above 62,825 shares. If that breakout hits soon, then BTN will set up to re-test or possibly take out its next major overhead resistance levels at $3.90 to $4.13. Any high-volume move above those levels will then put $4.20 to $4.50 into focus for shares of BTN.

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