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KiOR(KIOR) is development-stage company. KiOR is a renewable fuels company, which has developed a technology platform to convert non-food biomass into hydrocarbon-based oil. This stock is trading up 5.4% at $13.14 in recent trading.
Today's Volume: 289,000
Average Volume: 124,982
Volume % Change: 327%
From a technical perspective, KIOR is ripping higher today on above average volume. This move is quickly pushing the stock within range of triggering a big breakout trade. That breakout will hit once KIOR can takes out some near-term overhead resistance at $13.19 to $13.50 with volume.
Watch for a sustained high-volume move and close above those levels to signal that KIOR wants to trend much higher. If we get that action soon, then traders should continue to look for long biased trades since there will be little overhead resistance left until $17 to $18.40.
KiOR was also highlighted recently in "
7 Undervalued IPO Stocks That Could Rebound in 2012."