Warren Resources (WRES) is an independent energy company engaged in the exploration, development and production of domestic onshore crude oil and gas reserves. This stock is trading up 3.8% to $3.08 in recent trading.
Today's Range: $2.99-$3.1752-Week Range: $2.08-$4.36 Volume: 205,000 Three-Month Average Volume: 337,534 >>9 Oil Stocks With Hot Prospects From a technical perspective, WRES is bouncing higher here right off its 200-day moving average of $2.96 with decent volume. This move is quickly pushing WRES within range of triggering a near-term breakout trade. That trade will hit once WRES takes out some near-term overhead resistance at $3.20 with high volume. At last check, WRES has hit an intraday high of $3.18 and volume is below its average action. Traders should now look for long-biased trades once WRES sustains a move or close above $3.20 with volume that's near or above 337,534 shares. If that breakout triggers soon, then look for WRES to re-test and possibly take out its next major overhead resistance levels at $3.47 to $3.80. Traders should key off of near-term support at $2.86 if you buy off weakness to anticipate that breakout.
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