Photronics Rips Higher, Breaks Out

Shares of Photronics PLAB are ripping higher this morning on the back of better than expected Q3 earnings results. Currently shares are higher by 15.12%, trading at $6.47. The stock has now breeched the $6.20-6.30 resistance band, which sets shares up to make a run higher. The next step would be the 50-day moving averages, which is at roughly $7.30. Photronics is now trading above the 13-day moving average, which will now become support and the most logical stop loss level for swing traders. Note that Photronics has 12.46% short interest. Photronics, Inc. is a manufacturers of photomasks, which are precision photographic quartz plates containing microscopic images of electronic circuits. Disclosure: Writer or relatives may have a position in above security. Data Sources: WhatsTrading.com, finance.yahoo.com, etrade.wallst.com