Ultratech's Upgrade Could Take It Up to $25

Stock quotes in this article: 

UTEK

I like the bottom pattern on Ultratech (UTEK) and I would seize this bullish opportunity if we can close above $21 (see the chart below).

We have a pretty easy time recognizing a bottom on UTEK the past 10 to 11 months. We can't say volume was building through the chart of UTEK, but we can say the OBV line rose steadily from July. The 50-day and 200-day moving averages are rising and we have a golden cross in January as the 50-day average crosses above the 200-day average. The Moving Average Convergence Divergence (MACD) oscillator is positive, and a breakout from the base is a close above $21.

This longer-term chart of UTEK, above, actually shows a bottom pattern that stretches all the way back into 2014, which makes this that much more impressive. Prices are above the flat 40-week moving average line, which is a plus. The way things are scaled, it is hard to say if the OBV line is rising much, but we can say the MACD oscillator is rising and above the zero line -- a bullish configuration. This anticipated upside breakout should carry UTEK up to $25 for starters and traders should risk $2 from entry. 

By BRUCE KAMICH

Source: http://realmoney.thestreet.com/articles/03/14/2016/ultratechs-upgrade-could-take-it-25?_ga=1.261379725.1238642357.1452121448