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Richmont Mines(RIC - Get Report) engages in the acquisition, exploration, development and operation of mineral properties, principally gold in Canada. This stock is trading up 3.2% to $4.19 in recent trading.
Today's Range: $3.99-$4.24
52-Week Range: $3.23-$13.19
Three-Month Average Volume: 244,268
From a technical perspective, RIC is bouncing higher here off some near-term support at $4 with light volume. This move is coming after RIC recently dropped from $5.50 to a low of $3.89 during the last month or so.
Traders should now look for long-biased trades in RIC once it manages to take out its 50-day at $4.30, and then some more overhead resistance at $4.54 with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 244,268 shares. If that breakout triggers soon, then RIC will have a great chance to re-test or possibly take out its next major overhead resistance levels at $5 to $5.50. Any move above $5.50 will then put $6 to $6.50 into focus.
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.