EMCORE (EMKR) Breaking Out After Reporting Earnings

EMCORE (EMKR), is moving up nicely today with volume after reporting earnings.  I don’t see anything in the report that would lead to a surge, but traders clearly like the direction the company is headed.  They reported another loss of .03/share on revenues of $52 million which was 23% higher than the year ago quarter.

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The company expects revenues in the range of $46 – $49 million next quarter.  That would be about inline with what they reported a year ago, so nothing special there either.

Technically, the stock has looked increasingly bullish, ramping up in Q4 2010, correcting and now retesting the highs of last year. 

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