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.