Can This Stock Hold the Traction? Gapping up Pre-Bell: Micronet Enertec Technologies, Inc.

Micronet Enertec Technologies, Inc. (NASDAQ:MICT) is gapping higher befor market open as it moved 10.26% pre-bell.  With the move the stock is currently valued at $1.24.As we move deeper into earnings season, investors may be trying to figure out how to best position the portfolio for the rest of the calendar year. Maybe things haven’t gone as well as planned in the first half of the year, and a few tweaks need to be made to bolster profits in the second half. Closely watching the earnings reports may be a good way to see what companies are getting things right, and what companies have some work to do. Many investors will take notice if a company posts a much larger earnings beat or miss than expected. Not only will the stock most likely become a bit more volatile, but overall interest may be heightened as investors try to piece together the puzzle and figure out why there was such a discrepancy between estimates and actuals. Once the dust settles and the picture becomes a little clearer, investors may be able to properly rotate in or out of a certain name or sector. Finding stocks that look good on paper but have fallen out of favor with certain investors may be a good place to start doing some further number crunching. Locating those overlooked sectors with growth potential might be a good way to uncover those stocks that are ready to make a run.

At the time of writing, the stock was trading at $1.24. This represents a change from the opening price of -3.88%. In terms of performance, year to date, the stock is 4.46%. The monthly stock performance comes in at 23.16%. For the quarter, shares are performing at 46.38%. Weekly performance analysis shows the equity at -2.50%.

In taking a look at technical levels, shares are trading 19.53% away from the 50 day simple moving average and 23.51% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -29.95% away from it’s 52- week high and 90.75% away from its 52 week low. 

As of writing, Micronet Enertec Technologies, Inc.’s RSI stands at 58.86. In looking at volatility levels, the shares saw weekly volatility of 8.34% and 11.89% over the past month.

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