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MT Newswires' After-Hours Trading Range Analysis: OVTI
By: MT Newswires
OmniVision Technologies ( OVTI ): Stock plummeted to an early after-hours low of 16.10 before steadying between 16.90 and 16.30 through the rest of the evening. A pre-market open Friday may have potential in the 16.50 to 16.80 area. A tentative near-term ceiling level formed Thursday night near 17 to 16.80, but we would be cautious on the short side here as it didn't get much of an upside test. On the long side, buyers were active off the low of 16.10 up to the 16.30, levels where a potential near-term floor support could form.