One stock that's trading within range of a near-term breakout trade is Alexco Resource (AXU - Get Report), which operates two principal businesses: mineral exploration and development in Canada, primarily in Yukon Territory, and provision of consulting and project management services in respect of environmental permitting. This stock has been hit pretty hard by the sellers this year, with shares down by over 30% so far.
If you take a look at the chart for Alexco Resource, you'll notice that this stock was downtrending badly until mid-August, with shares consistently making lower highs and lower lows, which is bearish technical price action. That said, it now looks like AXU has reversed its bearish trend to a bullish uptrend following a double bottom at around $3.21 to $3.36 a share. Shares of AXU have now started to surge back above its 50-day moving average of $3.90 a share, and it's moving into range of triggering a near-term breakout trade.
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