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Triangle Petroleum(TPLM) is an oil and gas exploration and development company focused primarily on the acquisition, exploration and development of resource properties consisting mainly of unconventional oil and gas reserves. This stock is trading up 3.5% to $5.33 in recent trading.
Today's Range: $5.17-$5.60
52-Week Range: $3.00-$8.26
Three-Month Average Volume: 518,387
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From a technical perspective, TPLM is bouncing here off of some oversold levels, since this stock dropped in the last few months from a high of $8.26 to a low of $4.68. This bounce today is coming after TPLM recently registered a relative strength index reading that was below 30.
Traders should now look for long-biased trades if TPLM can manage to move back above its 50-day moving average at $5.94 and its 200-day moving average at $6.24 with
high volume. Look for a sustained move or close back above those levels with volume that's near or above 518,387 shares. If we get that action, then TPLM has a good chance of re-testing its next significant overhead
resistance levels at $6.89 to $7.60.