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Richmont Mines(RIC - Get Report) is a gold company. Richmont Mines is engaged in the production of gold from its Beaufor Mine and Island Gold Mine, two of its three material properties. This stock is trading up 8.5% at $6.37 in recent trading.
Today's Range: $5.95-$6.45
52-Week Range: $4.91-$13.40
Three-Month Average Volume: 271,011
technical perspective, RIC is booming to the upside here on above average volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once RIC takes out some near-term overhead
resistance at $6.54, and then takes out its 50-day moving average at $6.74 with high volume.
Traders should now look for long-biased trades if RIC can sustain a move or close above those levels with volume that's near or above 271,011 shares. If we get that action soon, look for RIC to tag its next significant overhead resistance levels at $7.38 to $8.
To see more stocks under-$10 that are making notable moves higher today, check out the
Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.