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Recon Technology(RCON - Get Report) provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in People's Republic of China. This stock is trading up 27% at $2.74 in recent trading.
Today's Range: $2.14-$2.98
52-Week Range: $0.27-$4.58
Three-Month Average Volume: 249,121
>>5 Stocks Setting Up to Break Out
From a technical perspective, RCON is skyrocketing today on monster volume. This move has just started to push RCON into breakout territory with the stock moving above some near-term overhead resistance at $2.64.
Traders should continue to look for long-biased trades in RCON as long as it's trending above $2.64 with strong upside volume flows. I would consider upside volume that's near or well above 249,121 as bullish. Also, look for RCON to close near its daily highs today. If we get that action, look for RCON to tag its next significant overhead resistance level of $3.50 in the near future. Any high-volume move then above $3.50 will put $4.60 into play.