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Trade Alert: ADEP

|Includes:Adept Technology, Inc. (ADEP)

 hedgefundlive, volume, small cap, tech, technical analysis, trade, trading, high flyer, volatile stock

ADEP showing bullish movement against downtrend. — Adept Technology, Inc., (ADEP) together with its subsidiaries, provides intelligent robotics systems and services for packaging, solar, medical, disk drive/electronics, machine tool automation, and automotive electronics sectors.

The stock has been in downtrend over last 6 months. Volume has picked up lately, pushing the price higher and forming bullish candles. There is resistance in the $4.70 area from a top formed in early April. This can be looked at as a long or short opportunity. If the price breaks cleanly higher next week, it will have room to run above $5.oo. If resistance is too strong, the stock may be a good short candidate in continuation of the downtrend.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Stocks: ADEP