Universal Display Rallies, Forms Bullish Pattern

Shares of Universal Display PANL are rallying higher today; currently, shares are up by 8.96%, trading at $44.04. The stock has previously consolidated around the 20-day and 50-day moving averages before shooting higher on high volume. Since then PANL has consolidated, formed a bullish flag pattern, and looks like it wants to break higher. The bullish technical pattern was triggered when Universal Display rode above $44.07. Next resistance comes into play at $47.10, then $50.00. Note that Universal Display has 13.00% short interest. Universal Display Corporation is engaged in research, development and commercialization of organic light emitting diode, technologies and materials.