Traders should now look for long-biased trades in AXAS as long as it's trending above its 50-day at $2.02, and then once it sustains a move or close above those breakout levels with volume that hits near or above 808,942 shares. If that breakout hits soon, then AXAS will set up to re-test or possibly take out its next major overhead resistance levels at $3.38 to $3.42.
Forest Oil (FST)
This is an independent oil and gas company engaged in the acquisition, exploration, development, and production of natural gas and liquids mainly North America. This stock is trading up 6.8% to $6.99 in recent trading.
Today's Range: $6.55-$7.1052-Week Range: $5.68-$15.15 Volume: 2.93 million Three-Month Average Volume: 3.38 million From a technical perspective, FST is bouncing higher here right off some near-term support at $6.50 with decent volume. This stock has been trending sideways for the last two months, with shares moving between $6.06 on the downside and $6.95 on the upside. Shares of FST are quickly approaching a major breakout trade above the upper-end of its recent range. That trade will hit once FST clears some near-term overhead resistance levels at $6.95 and its 50-day at $7.25 with high volume. Traders should now look for long-biased trades in FST as long as it's trending above $6.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.38 million shares. If that breakout hits soon, then FST will set up to re-test or possibly take out its next major overhead resistance levels at 8.50 to $9. Any high-volume move above $9.12 to $9.33 will then put $11 into focus for shares of FST. Magnum Hunter Resources (MHR) This is an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the United States. This stock is trading up 8.3% to $4.09 in recent trading. Today's Range: $3.78-$4.22 52-Week Range: $3.29-$7.71 Volume: 4.81 million
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