Three-Month Average Volume: 3.37 million
From a technical perspective, MHR is ripping higher here back above its 50-day moving average of $3.93 with above-average volume. This move is quickly pushing shares of MHR within range of triggering a near-term breakout trade. That trade will hit once MHR manages to clear some near-term overhead resistance levels at $4.24 to $4.69 with high volume.
Traders should now look for long-biased trades in MHR as long as it's trending above its 50-day at $3.93, and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.37 million shares. If that breakout triggers soon, then MHR will set up to re-test or possibly take out its next major overhead resistance levels at $4.91 to $5.24.
To see more stocks 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.
Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts