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Actionable news in VUZI: VUZIX CORP,

These 5 Stocks Are Breaking Out

Vuzix

A consumer goods player that's starting to trend within range of triggering a near-term breakout trade is Vuzix (VUZI) , which designs, manufactures, markets and sells wearable display devices in the U.S. and internationally. This stock has seen strong buying pressure over the last six months, with shares ripping higher by 41.3%.

If you take a glance at the chart of Vuzix, you'll notice that this stock spiked sharply higher on Thursday right off its 50-day moving average of $7.30 a share and back above its 20-day moving average of $7.50 a share with lighter-than-average volume. This rip to the upside is now quickly pushing shares of Vuzix within range of triggering a near-term breakout trade above some key overhead resistance levels.

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Traders should now look for long-biased trades in Vuzix if it manages to break out above some near-term overhead resistance levels at $7.89 to $8.11 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 564,022 shares. If that breakout takes hold soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8.40 to its 52-week high of $9.30, or even $10 to $11 a share.

Traders can look to buy Vuzix off weakness to anticipate that breakout and simply use a stop that sits right below around some key near-term support levels at $7.11 to $6.92 a share. One can also buy this stock off strength once it starts to bust above those breakout levels with volume and then simply use...


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