Saturday, January 18, 2014 6:48:10 PM
ECTE @ The Street
Chart Analysis:
http://www.thestreet.com/story/12243851/2/4-under-10-health-care-stocks-moving-higher.html
From a technical perspective, ECTE bounced modestly higher here right off its 200-day moving average of $3.52 with lighter-than-average volume. This move is starting to push shares of ECTE within range of triggering a near-term breakout trade. That trade will hit if ECTE manages to take out Thursday's high of $3.85 to some more near-term overhead resistance at $4.13 with high volume.
Traders should now look for long-biased trades in ECTE as long as its trending above some near-term support at $3.22 or above its 50-day at $3.04 and then once it sustains a move or close above those breakout levels with volume that hits near or above 563,173 shares. If that breakout hits soon, then ECTE will set up to re-test or possibly take out its next major overhead resistance levels at $4.91 to $6.
Chart Analysis:
http://www.thestreet.com/story/12243851/2/4-under-10-health-care-stocks-moving-higher.html
From a technical perspective, ECTE bounced modestly higher here right off its 200-day moving average of $3.52 with lighter-than-average volume. This move is starting to push shares of ECTE within range of triggering a near-term breakout trade. That trade will hit if ECTE manages to take out Thursday's high of $3.85 to some more near-term overhead resistance at $4.13 with high volume.
Traders should now look for long-biased trades in ECTE as long as its trending above some near-term support at $3.22 or above its 50-day at $3.04 and then once it sustains a move or close above those breakout levels with volume that hits near or above 563,173 shares. If that breakout hits soon, then ECTE will set up to re-test or possibly take out its next major overhead resistance levels at $4.91 to $6.
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