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EnerNOC(ENOC) is a provider of clean and intelligent energy solutions, which include demand response services, energy efficiency, or monitoring-based commissioning, services, energy procurement services and emissions tracking and trading support services. This stock is trading up 7.7% at $6.25 in recent trading.
Today's Range: $6.06-$6.66
52-Week Range: $5.41-$18.75
Three-Month Average Volume: 351,676
Shares of ENOC are ripping higher today after the stock was upgraded by analysts at Needham & Company from a neutral to buy rating. They now have a $7.50 price target on the stock.
>>Stocks With Recent Analyst Upgrades
From a technical perspective, ENOC is gapping up sharply higher here on above-average volume. This move has pushed ENOC into breakout territory since the stock has moved above some near-term overhead resistance at $5.95 to $6.19. This move has also pushed ENOC right near its 50-day moving average of $6.63. At last check, ENOC had hit an intraday high of $6.66, but since then it's pulled back to its current price around $6.25.
Traders should now look for long-biased trades once ENOC takes out its 50-day moving average at $6.63 with high-volume. Look for a sustained move or close above $6.63 with volume that's near or above 351,676 shares. If we get that action soon, look for ENOC to make a big run at its next significant overhead resistance levels at $7.94 to $8.27, or possibly its 200-day moving average of $9.05.
Keep in mind that ENOC will only have a chance at hitting those targets if it's trending above its 50-day with strong upside volume flows.