Today's Range: $8.20-$8.49
52-Week Range: $5.70-$18.18
Volume: 1.79 million
Three-Month Average Volume: 2.68 million
From a technical perspective, KEG is ripping higher here right above some near-term support at $7.93, and back above its 200-day moving average of $8.19 with decent volume. This stock has been uptrending strong for the last three months, with shares soaring from its low of $5.70 to its recent high of $8.60. During that move, shares of KEG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now push shares of KEG within range of triggering a near-term breakout trade. That breakout will hit if KEG manages to take out some near-term overhead resistance at $8.60 with high volume.
Traders should now look for long-biased trades in KEG as long as it's trending above $7.93 or its 200-day at $8.19, and then once it sustains a move or close above $8.60 with volume that hits near or above 2.68 million shares. If that breakout triggers soon, then KEG will set up to re-test or possibly take out its next major overhead resistance levels at $9.57 to $10.
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.
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