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Rosetta Resources(ROSE - Get Report) is an independent exploration and production company engaged in the acquisition and development of onshore energy resources in the U.S. This stock is trading up 4% at $43.92 in recent trading.
Today's Volume: 1.3 million
Average Volume: 1.25 million
Volume % Change: 58%
From a technical perspective, ROSE is spiking higher here with above average volume. This move is quickly pushing ROSE within range of triggering a major breakout trade. That trade will hit once ROSE takes out some near-term overhead resistance levels at $43.41 to $43.48, and then once it clears its 200-day moving average of $45.34 with high volume.
Traders should now look for long-biased trades once ROSE sustains a move or close above those levels with volume that's near or above its three-month average volume of 1.25 million shares. If we get that breakout soon, then look for ROSE to re-test and possibly take out its next major overhead resistance levels at $50 to $51.35.