Alphatec Holdings (NASDAQ: WATT) shares reached a new 52-week high of $7.44 yesterday, before closing at $6.27. A number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $38.40, $6.54.
Shares of Alphatec Holdings (NASDAQ: WATT) opened at $6.54 and traded in a range between, $6.10 and $7.44 yesterday, and last traded at $6.27, which represents a change of $ -0.05 over the previous closing price. Most stocks that hit a new 52-week high go higher. The easiest, and best way to assemble a list of potential high performers is to refer to the new 52-week highs list.
Look for heavy-volume accumulation by institutional investors, particularly at buy points.
Alphatec Holdings (NASDAQ: WATT) now has a market cap of $N/A
The average daily volume for Alphatec Holdings (NASDAQ: WATT) is 72,553 shares out of a total float N/A and some 620,304 shares traded hands on yesterday, 28 percent higher than normal. Significant increases in trading volume and price appreciation together could signal heavy volume accumulation by institutional investors.
As with all breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in. If the share price rises sharply and the trading volume spikes well above average, that indicates demand.
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below. This is because the average acts like a floor (support), so the price bounces up off of it. In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.