Faro came close to major resistance and ready for break up
Fundamentals:
FARO Technologies, Inc. operates as a 3D measurement, imaging and realization technology company. It design, develop, manufacture, market and support software driven, three-dimensional measurement, imaging and realization systems.
Technicals:
2015 was hard for this company and price dropped from around $63 to almost $20. But now, it shows some power. Price jumped up after earnings and approached to major resistance at $35.25. The break and close above will lead us higher.
Trade and Risk Management:
Break and close above $35.25 will trigger an Entry Long with stop below $32.20. Target depens on your timeframe. For active traders it can be around lower $40ish. And for long term holders - $48.
FARO Technologies, Inc. operates as a 3D measurement, imaging and realization technology company. It design, develop, manufacture, market and support software driven, three-dimensional measurement, imaging and realization systems.
Technicals:
2015 was hard for this company and price dropped from around $63 to almost $20. But now, it shows some power. Price jumped up after earnings and approached to major resistance at $35.25. The break and close above will lead us higher.
Trade and Risk Management:
Break and close above $35.25 will trigger an Entry Long with stop below $32.20. Target depens on your timeframe. For active traders it can be around lower $40ish. And for long term holders - $48.
