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Hyperdynamics(HDY) is an oil and gas exploration company with prospects in offshore Republic of Guinea in Northwest Africa. This stock is trading up 3.1% to $2.29 in recent trading.
Today's Range: $2.26-$2.48
52-Week Range: $2.01-$7.78
Volume: 4.1 million
Three-Month Average Volume: 3 million
Shares of HDY are moving nicely to the upside today after the company said it has resumed drilling operations on the Sabu-1 exploration well in its concession offshore the Republic of Guinea in West Africa.
technical standpoint, HDY has started to challenge a break out of its consolidation range from $2.01 to $2.38. This stock has been trading within that range for the past few weeks.
high-volume move that takes HDY above $2.38 on a closing basis should set this stock up to re-test $2.75 to $3.25 in the near-term. Volume today is tracking in very strong, so look for a close over $2.38 to signal a much larger spike higher for HDY in the near future.