STEC : Wait for volume to increase
February 15, 2011 Leave a comment
STEC is stuck inside a week chart ‘rectangle pattern’, with support at 11.80 and resistance at 13.80. Volume is not yet strong enough to suggest a breakout is imminent, that would need several days of flows in excess of 40m shares / session, as compared to the current average of just 10m / session.
Currently at 13.20 after posting a day high at 13.50, the stock has a cluster of support from 12.90 to 13.10, and a more substantial level at 12.60.