Uni-Pixel, Inc. (NASDAQ: UNXL)
Uni-Pixel, Inc. (UNXL), a pre-production stage company announced on Monday that it has received a pre-production order from a major PC OEM for a 10 inch tablet.
Uni-Pixel, Inc. VP of Sales and Marketing Comments
Mr. Brett Gaines, vice president of sales and marketing, commented,
“We are pleased that the earlier engineering samples delivered to this Japanese PC and consumer electronics manufacturer have resulted in a follow-on pre-production purchase order. While this pre-production order does not guarantee that this sensor will eventually enter mass production with this customer, we are excited about moving this opportunity forward to the next step.” PR Newswire
UNXL Technical Analysis
UNXL gapped up in price yesterday to $1.44, up from the prior day’s close of $1.05, which is a 37% increase in price based on favorable news. Taking a look at the daily chart, we can see the last time the stock traded above this price level was on October 13th, when it closed at $1.46. Taking a further look back on the chart, we can see the stock has been in an overall downtrend dating back to its 52 week high price of $8.50 on April 17th. More recently, UNXL has been on a decline since October 9th it traded at $2.16. The stock does have a low float of 13.48 million shares and is trading on almost 3 times the normal daily trading volume. Both of these factors make the stock a good candidate for the gap and go strategy. The stock did reach pre market highs of $1.75 but it gave back $0.31 at the open, or equivalent to 18%. For trading purposes my entry point would have been $1.50 looking for a run up to the pre market highs of $1.75. My stop loss would have been $1.40 fearing anything below that and the stock would start to fill in the gap up.
Uni-Pixel, Inc., incorporated on October 13, 2000, is a pre-production stage company. The Company is engaged in developing its Performance Engineered Film (PEF) products for the display, touch screen and flexible electronics market segments. The Company is engaged in the development of products and prototypes to demonstrate the functionality of the PEF technology across multiple applications and markets in a range of implementations. Its PEF production process operates as Copperhead and has rebranded the touch sensors made with the Copperhead process as InTouch sensors. It makes transparent conductive films and flexible electronic films based on its Copperhead manufacturing process.
The Copperhead process offers precision micro-electronic circuit patterning and modification of surface characteristics. It is also engaged in developing a hard coat resin that can be applied using film, spray or inkjet coating methods for applications as protective cover films, a cover lens replacement or a conformal hard coat for plastic components. It can also print pads for connectors along with its circuits. Its technologies can be applied to a range of functional uses in films for display products. The Company’s Diamond Guard Anti-Scratch protective cover film product can be used to protect touch screen devices. Reuters