Location Based Technologies Eyeing 52-Week High

Shares of Location Based Technologies LBAS are trading higher on the session by 5.49%, at $0.48. Shares have been grinding higher for the past few weeks and now have the 52-week high of $0.51 in their sights. Location Based Technologies has not seen a tick over $0.51 in over two years; this is important. A breech of the high could send a shockwave of buyers into the name, pumping even higher. Note that the 20-day, 50-day, and 200-day moving averages are upward sloping; however shares are also trading well above all three of those levels. Be sure to use tight stops on any breakout attempt, as shares could just as easily find an air-pocket and dive lower. Location Based Technologies, Inc. designs, develops, and sells personal, pet, and vehicle locator devices and services. The company is a developer of the PocketFinder family of products and the PocketFinder Network.