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McMoRan Exploration(MMR) is engaged directly through its subsidiaries, joint ventures or partnerships with other entities in the exploration, development, production and marketing of crude oil and natural gas. This stock is trading up 6.3% at $12.05 in recent trading.
Today's Volume: 2.5 million
Average Volume: 2.3 million
Volume % Change: 95%
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From a technical perspective, MMR is starting to trend back above its 200-day moving average here at $11.85 with above-average volume. This move is quickly pushing MMR within range of taking out its 50-day moving average of $12.62.
Traders should now look for long-biased trades as long as MMR is trending above its 200-day, and then once it takes out its 50-day with volume that hits near or above 2,338,660 shares. If MMR triggers that move, then look for this stock to re-test or possibly take out its next significant overhead resistance levels at $13.70 to $14.49.