PDC Energy (PDCE)
This company is a domestic independent exploration and production company that acquires, develops, explores, and produces natural gas, NGLs, and crude oil. This stock is trading up 6% at $34.38 in recent trading.
Today's Volume: 913,000
Average Volume: 440,600Volume % Change: 234% From a technical perspective, PDCE is ripping higher here right off its 50-day moving average of $30.95 with above-average volume. This move has started to push PDCE into breakout territory, since the stock has taken out some near-term overhead resistance levels at $34.15 to $34.25. At last check, PDCE has hit an intraday high of $34.60. Shares of PDCE are now moving within range of another major breakout trade. That trade will hit once it manages to take out some past overhead resistance at $36.03 with high volume. Traders should now look for long-biased trades in PDCE as long as it's trending above its 50-day at $30.95, and then once it sustains a move or close above $34.25 to $36.03 with volume that hits near or above 440,600 shares. If that breakout triggers soon, then PDCE will set up to re-test or possibly take out its next major overhead resistance levels at $38 to $40. J.C. Penny (JCP) This is a holding company, whose business consists of selling merchandise and services to consumers through its department stores and direct channels. This stock is trading up 4% at $18.25 in recent trading. Today's Volume: 13.29 million Average Volume: 9.04 million Volume % Change: 125% Shares of JCP are trending up today after Streetinsider.com said the company is reported to have had strong sales on Black Friday. From a technical perspective, JCP is moving higher here right above some near-term support at $17 with heavy upside volume. This move has started to push JCP into breakout territory, since the stock is moving above some near-term overhead resistance at $17.93. This action is also coming off oversold conditions, since JCP's current relative strength index (RSI) reading is 35.76. Oversold can always get more oversold, but it's also a condition that can produce powerful bounces to the upside once buyers move in.
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