Saturday, November 12, 2011 9:59:41 PM
Velti (VELT) -
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One more stock that’s approaching a major breakout is Velti (VELT), a global provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media companies to implement campaigns by communicating with and engaging consumers through their mobile devices. The bears have hammered this stock in 2011, with shares off by over 40%.
If you look at the chart for Velti, you’ll notice this stock plunged huge from its July high of $20 a share to a recent low of $6.11. Since hitting that low, the stock has rebounded back above its 50-day moving average of $7.81 a share, and it’s now setting up to trigger a major breakout.
>>5 Breakout Stocks to Recoup Your Losses
Market players should watch for a high-volume move above some near-term overhead resistance at $8.74 to $8.85 a share, and then $9.25 a share. If this stock busts above those tough resistance levels with volume, then look for a monster spike towards its 200-day moving average of $12.93, or possibly even higher.
I would look to buy this stock once it starts moving above all three of those levels on volume that’s tracking in close to or above its three-month average action of 634,283 shares. I would use a tight mental stop just below the 50-day moving average in case the stock isn’t ready to swing higher.
Keep in mind that VELT reports earnings on next Tuesday, so look to play the breakout after you know the quarter is a good one and the stock is reacting positive. That said, you can scalp the stock ahead of the quarter for some quick gains while we wait for the report. <<<
http://stockpickr.com/5-stocks-setting-break-out.html-12
>>> One more stock that’s approaching a major breakout is Velti (VELT), a global provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media companies to implement campaigns by communicating with and engaging consumers through their mobile devices. The bears have hammered this stock in 2011, with shares off by over 40%.
If you look at the chart for Velti, you’ll notice this stock plunged huge from its July high of $20 a share to a recent low of $6.11. Since hitting that low, the stock has rebounded back above its 50-day moving average of $7.81 a share, and it’s now setting up to trigger a major breakout.
>>5 Breakout Stocks to Recoup Your Losses
Market players should watch for a high-volume move above some near-term overhead resistance at $8.74 to $8.85 a share, and then $9.25 a share. If this stock busts above those tough resistance levels with volume, then look for a monster spike towards its 200-day moving average of $12.93, or possibly even higher.
I would look to buy this stock once it starts moving above all three of those levels on volume that’s tracking in close to or above its three-month average action of 634,283 shares. I would use a tight mental stop just below the 50-day moving average in case the stock isn’t ready to swing higher.
Keep in mind that VELT reports earnings on next Tuesday, so look to play the breakout after you know the quarter is a good one and the stock is reacting positive. That said, you can scalp the stock ahead of the quarter for some quick gains while we wait for the report. <<<
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