ZaZa Energy (ZAZA)
This company is a privately held independent exploration and production company focused on the exploration and development of unconventional onshore oil and gas resources in the U.S. This stock is trading up 1% to $1.98 in recent trading.
Today's Range: $1.88-$2.1352-Week Range: $1.20-$5.49 Volume: 1.15 million Three-Month Average Volume: 358,814 From a technical perspective, ZAZA is bouncing modestly higher here with above-average volume. This stock has exploded higher during the last two trading sessions, with shares running from $1.30 to its recent high of $2.19 with big volume. That move now has ZAZA trending within range of triggering a near-term breakout trade. That trade will hit once ZAZA manages to take out some near-term overhead resistance at $2.19 and then once it clears its 50-day at $2.35 with high volume. Traders should now look for long-biased trades in ZAZA once it manages to sustain a move or close above those breakout levels at $2.19 to $2.35 with volume that hits near or above 358,814 shares. If that breakout triggers soon, then look for ZAZA to potentially make a run at $3 to its 200-day moving average of $3.64.
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