4 Stocks Under $10 Making Big Moves

Vaalco Energy

Vaalco Energy (EGY) is an independent energy company principally engaged in the acquisition, exploration, development and production of crude oil and natural gas. This stock is trading up 5.8% to $8.72 in recent trading.

Today's Range: $8.25-$8.78

52-Week Range: $5.13-$10.32

Volume: 133,000

Three-Month Average Volume: 450,465

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From a technical perspective, EGY is rocketing higher here right off its 50-day moving average of $8.22 with light volume. This move is quickly pushing EGY within range of triggering a near-term breakout trade. That trade will hit once EGY manages to take out some near-term overhead resistance at $8.75 with high volume. At last check, EGY has hit an intraday high of $8.78 and volume is well below its three-month average action of 450,465 shares.

Traders should now look for long-biased trades in EGY as long as it's trending above $8.22 to $8.75 with strong upside volume flows. I would consider any upside volume day that registers near or above 450,465 shares as bullish. If EGY can manage to sustain that trend, then this stock will setup to re-test or possibly take out its next major overhead resistance levels at $9.60 to $9.65, and then its 52-week high of $10.32. Keep in mind that any move above $10.32 will push EGY into new 52-week-high territory, which is bullish price action. Some possible targets above that level are north of $11.

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