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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More
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  • Trade Alert: ADEP  0 comments
    May 16, 2011 9:01 AM | about stocks: ADEP
     hedgefundlive, volume, small cap, tech, technical analysis, trade, trading, high flyer, volatile stock

    ADEP showing bullish movement against downtrend.

     

    HedgeFundLIVE.com — 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.
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