"big time short squeeze potential, $25-$27 target" streetdotcom
Traders should now look for long-biased trades in UNXL if it manages to break out above some near-term overhead resistance levels at $18.87 to $19.67 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 643,079 shares. If that breakout triggers soon, then UNXL will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are $25 to $27 a share.
Traders can look to buy UNXL off any weakness to anticipate that breakout and simply use a stop that sits right around some key near-term support at $16.50 a share. One could also buy off strength once UNXL takes out those breakout levels with volume and then simply use a stop that sits just below $18 a share.
This stock has big time short-squeeze potential if that breakout triggers soon, since its current short interest as a percentage of its float is crazy high at 28.4%. The float is also very small for UNXL at just 7.97 million shares, so if that breakout hits be ready to play it.