FAB Universal's (FU) operations include the sale of digital media through retail, wholesale and kiosks. This stock closed up 5.4% to $3.68 on Tuesday.
Tuesday's Range: $3.53-$3.70
52-Week Range: $2.00-$5.70
Volume: 86,000
Three-Month Average Volume: 76,759
>>3 Tech Stocks in Breakout Territory
From a technical perspective, FU jumped higher here back above its 200-day at $3.63 and right below its 50-day at $3.71 with above-average volume. This move is quickly pushing shares of FU within range of triggering a major breakout trade. That trade will hit if FU manages to take out its 50-day at $3.71 and then once it clears more resistance levels at $3.80 to $3.85 with high volume.
Traders should now look for long-biased trades in FU as long as it's trending above Tuesday's low of $3.53 or above more support at $3.30 and then once it sustains a move or close above those breakout levels with volume that hits near or above 76,759 shares. If that breakout triggers soon, then FU will set up to re-test or possibly take out its next major overhead resistance levels at $4.20 to $4.65. Any high-volume move above $4.65 will then give FU a chance to tag $5.
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