52-Week Range: $7.63-$23.38
Tuesday's Volume: 627,000
Three-Month Average Volume: 983,366 >>5 Stocks Poised for Breakouts From a technical perspective, LITB spiked sharply higher here right above some near-term support at $7.63 with decent upside volume. This stock has been downtrending badly for the last month and change, with shares dropping from its high of $12.86 to its recent low of $7.63. During that move, shares of LITB have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of LITB have now started to come off that low of $7.63 and broke out on Monday above some near-term overhead resistance at $8.45. This move could be signaling that downside volatility for LITB could be over in the short-term. Traders should now look for long-biased trades in LITB as long as it's trending above Tuesday's low of $8 or above more near-term support at $7.63 and then once it sustains a move or close above Tuesday's high of $8.90 to more resistance at $9.25 with volume that hits near or above 983,366 shares. If we get that move soon, then LITB will set up to re-test or possibly take out its next major overhead resistance levels $10 to its 50-day moving average of $10.77. If those levels get taken out with volume, then LITB could even hit $12 to $12.50.