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Cal Dive International(DVR) is a marine contractor that provides manned diving, pipelay and pipe burial, platform installation and platform salvage services to a diverse customer base in the offshore oil and natural gas industry. This stock is trading up 7% to $1.62 in recent trading.
Today's Range: $1.52-$1.63
52-Week Range: $1.48-$4.00
Volume: 2.2 million
Three-Month Average Volume: 1.4 million
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From a technical perspective, DVR is ripping higher here right off some previous support levels at $1.51 to $1.48 with heavy volume. This move is coming after DVR recently gapped down big from $2.98 to under $1.80 with huge volume. Following that plunge, shares of DVR have found buying interest each time it's trading near or below $1.50.
Traders should now look for long-biased traders in DVR as long as it's trending above its recent low of $1.48 with strong upside volume flows. I would consider any upside volume day that registers near or above 1,358,290 shares as bullish. If DVR can hold that low and continue to uptrend, then this stock could hit $1.80 to its 50-day moving average of $1.95 soon.
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.