(SGY - Get Report)
This is an independent oil and natural gas company engaged in the acquisition, exploration, exploitation, development and operation of oil and gas properties. This stock is trading up 5.6% at $22.21 in recent trading.
Today's Volume: 828,000
Average Volume: 765,495
Volume % Change: 85%
From a technical perspective, SGY is soaring higher here right off its 50-day moving average of $21.03 with above-average volume. This move is quickly pushing shares of SGY within range of triggering a near-term breakout trade. That trade will hit if SGY manages to take out some near-term overhead resistance at $22.70 with high volume.
Traders should now look for long-biased trades in SGY as long as it's trending above some near-term support at $20.56, and then once it sustains a move or close above $22.70 with volume that hits near or above 765,495 shares. If that breakout hits soon, then SGY will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $23.96 to $24.47. Any move above $24.47 to $24.70 will then put $25 to $26 into focus for shares of SGY.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume
portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
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