Last week Technical Communications Corporation (NASDAQ:TCCO) was one of Wall Street’s hottest stocks after swinging to a profit.
Now, having retraced to the $5’s, down from a high of $10.49, it could be posted to break above $8 this week.
Interestingly, In play above the 61.8% fibonacci around $5.20, TCCO has $2 / share range to $8 and above that level might challenge $10 on a rest and retest if it can get momentum going again. Currently in the rest phase, watch for volume to confirm price action.
No doubt heavily shorted too, the squeeze could be fueled if shorts see $8 break.