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Drdgold(DRD - Get Report), a South African gold mining company, is engaged in underground and surface gold mining, including exploration, extraction, processing and smelting. This stock is trading up 6.1% to $6.52 in recent trading.
Today's Range: $6.15-$6.55
52-Week Range: $4.90-$8.16
Three-Month Average Volume: 34,025
From a technical perspective, DRD is bouncing sharply higher here right off its 50-day moving average of $6.10 with above-average volume. This move has also pushed DRD back above its 200-day moving average of $6.48, and its moving it within range of a near-term breakout trade. That trade will hit once DRD takes out some near-term overhead resistance levels at $6.58 to $7.08 with high volume.
Traders should now look for long-biased trades in DRD as long as its trending above its 50-day, and then once it sustains a move or close above those breakout levels with volume that's near or above 34,025 shares. If that breakout triggers soon, then DRD will setup to re-test or possibly take out its next significant overhead resistance levels at $7.50 to $8.16.
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