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PartsBase.com, Inc. (PRTS) Message Board

  • rchites rchites Jan 20, 2013 8:28 PM Flag

    STOCKPICKR

    Network (PRTS), which is a distributor of aftermarket auto parts and accessories. This stock has been destroyed the bears during the last six months, with shares off by a whopping 56%.

    If you take a look at the chart for U.S. Auto Parts Networks, you’ll see that this stock has been trending sideways during the last two months, with shares moving between $1.71 on the downside and $2.06 on the upside. Shares of PRTS are just starting to spike higher today and move within range of its 50-day moving average of $1.96 a share. The stock is also starting to trend close to breaking out above the upper-end of its recent sideways trading pattern.

    Traders should now look for long-biased trades in PRTS if it manages to break out above some near-term overhead resistance levels at $1.92 to $1.99 a share and then once it clears more resistance at $2 to $2.06 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 37,810 shares. If that breakout triggers soon, then PRTS will set up to re-test or possibly take out its next major overhead resistance levels at $2.50 to its 200-day moving average of $3.23 a share.

 
PRTS
2.94-0.08(-2.65%)Apr 17 4:00 PMEDT

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