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Carrizo Oil & Gas(CRZO - Get Report) is an independent energy company. Carrizo together with its subsidiaries is engaged in the exploration, development, and production of oil and gas in the U.S. and U.K. This stock is trading up 1.6% at $21.08 in recent trading.
Today's Volume: 1 million
Average Volume: 1.2 million
Volume % Change: 63%
From a technical perspective, CRZO is bouncing modestly here off a recent low of near $19.24 with decent volume. This stock has been hammered by the sellers during the last two months, with shares dropping from a high of $31.32 to a recent low of $19.24. During that slide, shares of CRZO have consistently made lower highs and lower lows, which is bearish technical price action.
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This bounce today is now pushing CRZO within range of a near-term breakout trade. That trade will trigger once CRZO takes out some near-term
overhead resistance at $22.48 with high volume.
Traders should now look for long-biased trades if CRZO can sustain a move or close above $22.48 with volume that's near or above 1.2 million shares. If we get that action soon, look for CRZO to possibly re-test its 50-day
moving average at $24.83 or its 200-day at $26.11.