Exco Resources (XCO - Get Report) is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore the U.S. oil and natural gas properties with a focus on shale resource plays. This stock is trading up 2% to $6.88 in recent trading. Today's Range: $6.82-$7.04 52-week Range: $5.65-$19.20 Volume: 3.2 million Three-Month Average Volume: 6 million
From a technical perspective, XCO is flirting with taking out its 50-day moving average of $6.86 here with light volume. At last check, this stock has hit an intraday high of $7.04, but it has since then pulled back to its current price of just under $6.90.Traders should now watch for a major breakout trade to trigger for XCO. That trade will hit once XCO takes out some near-term overhead resistance at $7.05 with high-volume. Traders should now look for long-biased trades if XCO can sustain a move or close above $7.05 with volume that's near or above 6 million shares. If we get that action today or soon, then look for XCO to re-test or possibly take out its next significant overhead resistance level of $8.20. If that $8.20 level gets hit and taken out, then XCO could easily tag its 200-day moving average at $8.84 in the near future. Exco shows up on a recent list of 25 Energy Stocks to Consider. 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.
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