NeoPhotonics Corporation (NPTN) broke key technical resistance at 11 yesterday after the stock has been moving sideways for more then 6 months. Today breakout is a 2nd day of momentum which started last week when the stock broke out of a mini consolidation between 9 and 10 area. Increasing volume, which is today more then double then average is confirming the strength and increases the chance for success of the breakout. Short term target is in 13 area.
By Sinisa Persic, CMT – www.TraderHR.com
