Another stock that's trading within range of a breakout is Petroleum Development (PTD), an independent natural gas and crude oil company that explores for and acquires, develops, produces and markets natural gas and crude oil resources. This stock is hasn't done much in 2012, with shares virtually flat on the year.
If you take a look at the chart for Petroleum Development, you'll see that this stock has been uptrending strong since the middle of January. During that uptrend, the stock has started to form a pattern of higher lows and higher highs, which is bullish price action. Now shares of Petroleum Development are within range of a potentially big breakout trade.
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