Parametric Sound (PAMT), an audio technology company, designs and markets audio peripherals for video game consoles, personal computers and mobile devices. This stock closed up 3.8% at $15.30 in Tuesday's trading session.
Tuesday's Volume: 308,000
Three-Month Average Volume: 75,127
Volume % Change: 358%
From a technical perspective, PAMT jumped higher here back above its 200-day moving average of $15.01 with strong upside volume. This stock has been trending sideways for the last month and change, with shares moving between $13.14 on the downside and $16.36 on the upside. Shares of PAMT are now starting to push within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will hit if PAMT manages to take out Tuesday's high of $15.70 and then once it clears more resistance levels at $16.36 to $16.76 with high volume.
Traders should now look for long-biased trades in PAMT as long as it's trending above Tuesday's low of $14.74 and then once it sustains a move or close above those breakout levels with volume that this near or above 75,127 shares. If that breakout hits soon, then PAMT will set up to re-test or possibly take out its next major overhead resistance levels at $18.38 to $20, or even its 52-week high at $22.39.