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Rare Elements Resources(REE) engages in the acquisition, exploration, and development of mineral properties in the U.S. and Canada. It focuses on gold and rare-earth-elements. This stock is trading up 6.9% to $6.44 in recent trading.
Today's Range: $6.00-$6.64
52-Week Range: $3.08-$16.55
Volume: 3.2 million
Three-Month Average Volume: 2.2 million
From a technical perspective, REE is surging higher today and moving back above its 50-day moving average of $6.22 with monster volume.
Traders should now watch for a major breakout to trigger if REE can manage to take out some near-term overhead resistance at $6.62 to $7.01 (its 200-day) with high volume. Look for volume on a move above those levels that's near or well above 2,152,070 shares. If we get that action soon, look for REE to make a run at $8 very quickly. Traders should continue to look for long biased trades as long as REE is trending above its 50-day, and if that major breakout triggers soon.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.