Advanced Battery Technologies (Nasdaq: ABAT) continued the steady climb today and slipped by the resistance at $3.00, reaching a high of day of $3.04 and closing the session at $3.03. In mid-2007 when ABAT broke through the resistance, the stock retraced slightly and consolidated before climbing to a high of $9.66 over the next few months. Volume rose significantly in the last hour of trading today, so ABAT may have enough momentum going into tomorrow's session to continue the upward trend rather than retrace as the stock did in mid-2007. Whether the stock goes up or down tomorrow, I remain strongly bullish on Advanced Battery Technologies over the long-term.
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