On Track Innovations
On Track Innovations (OTIV) designs, develops, and markets contactless microprocessor-based smart card solutions to customers in Africa, Europe, the Far East, the Americas and Israel. This stock closed up 6% to $3.15 in Tuesdays trading session.
Tuesdays Range: $3.00-$3.37
52-Week Range: $0.80-$3.70
Thursdays Volume: 1.76 million
Three-Month Average Volume: 491,922
From a technical perspective, OTIV spiked sharply higher here right above some near-term support at $2.93 with strong upside volume. This move briefly pushed shares of OTIV into breakout territory, since the stock flirted with some near-term overhead resistance at $3.31. Shares of OTIV tag an intraday high on Tuesday of $3.37 before closing just below that breakout level at $3.15. Market players should now look for a continuation move higher in the short-term if shares of OTIV manage to take out Tuesday's high of $3.37 with strong volume.
Traders should now look for long-biased trades in OTIV as long as its trending above Tuesday's low of $3 or above more near-term support at $2.93 and then once it sustains a move or close above $3.37 with volume that hits near or above 491,922 shares. If we get that move soon, then OTIV will set up to re-test or possibly take out its 52-week high at $3.70. Any high-volume move above that level will then give OTIV a chance to trend north of $4.
|
Thread abonnieren
