Technical Breakout: OpenTV Corp.
Boston, May 23, 2001 (Midnight Trader via COMTEX) -- OpenTV (OPTV) gained more
than 30% on Tuesday after it announced after the close on Monday that its
middleware has been deployed in 16 million digital set-top boxes around the
world. The news helped the stock jump over $3 and with volume of over 10 times
the 50-day average. The jump moved the stock closer to the 50-day MA, but also
left a large gap between the $10 level and $12.75. The $10 level is reaffirmed
now as a strong support level. Some consolidation can be expected in the next
few sessions and even perhaps a move to close the gap, but as the 50-day MA
turns upward a further move higher can be expected in the mid-term. The stock
will first find resistance at $15, with stronger resistance at $20. The stock is
falling on 18,483 Island shares.
Price: 13.38, Change: -0.44, Percent Change: -3.29%
URL: http://www.Midnight-Trader.com
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