IGate (IGTE) Marked As A Barbarian At The Gate

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified iGate ( IGTE) as a "barbarian at the gate" (strong stocks crossing above resistance with today's range greater than 200%) candidate. In addition to specific proprietary factors, Trade-Ideas identified iGate as such a stock due to the following factors:

  • IGTE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $21.7 million.
  • IGTE has traded 231,454 shares today.
  • IGTE traded in a range 312.8% of the normal price range with a price range of $0.31.
  • IGTE traded above its daily resistance level (quality: 530 days, meaning that the stock is crossing a resistance level set by the last 530 calendar days. The resistance price is defined by the Price - $0.01 at the time of the signal).

Stocks matching the 'Barbarian at the Gate' criteria are worthwhile stocks to watch for a variety of factors including historical back testing and volatility. Trade-Ideas targets these opportunities because the stock is exhibiting an unusual behavior while displaying positive price action. In this case, the stock crossed an important inflection point; namely, 'resistance' while at the same time the range of the stock's movement in price is more than twice its normal size. This large range foreshadows a possible continuation as the stock moves higher.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in IGTE with the Ticky from Trade-Ideas. See the FREE profile for IGTE NOW at Trade-Ideas

If you liked this article you might like

IGate (IGTE) Showing Signs Of Being Strong And Under The Radar

European Stocks Edge Up From 3-Month Lows; Bayer Sells Diabetes Division

Water-Logged And Getting Wetter Stock Of The Day: IGate (IGTE)

Nasdaq Backs Off Record High as Biotech Drags Markets Lower