Crosstex Energy (XTEX) is a midstream energy company, which is engaged in the gathering, transmission, treating, processing and marketing of natural gas and natural gas liquids, and providing terminal services for crude oil. This stock is trading up 3.6% at $16.51 in recent trading.
Today's Volume: 1.33 million
Average Volume: 560,673Volume % Change: 328% From a technical perspective, XTEX is gapping higher here and into breakout territory above some near-term overhead resistance levels at $16 to $16.20 with heavy upside volume. This move is quickly pushing shares of XTEX within range of triggering another major breakout trade. That trade will hit if XTEX manages to take out some more overhead resistance levels at $16.93 to $17.21 with high volume. Traders should now look for long-biased trades in XTEX as long as it's trending above its first tier breakout levels $16 to $16.20, and then once it sustains a move or close above its second tier breakout levels at $16.93 to $17.21 with volume that hits near or above 560,673 shares. If that breakout triggers soon, then XTEX will set up to re-test or possibly take out its next major overhead resistance level at $17.81. 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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