Goodrich Petroleum (GDP) explores, exploits, develops and produces oil and natural gas properties in East Texas and Northwest Louisiana. This stock is trading up 7.6% to $12.84 in recent trading.
Today's Volume: 1.74 million
Average Volume: 1.10 millionVolume % Change: 143% From a technical perspective, GDP is soaring higher here back above its 200-day moving average of $12.05 with above-average volume. This move is quickly pushing shares of GDP within range of triggering a near-term breakout trade. That trade will hit if GDP manages to take out some near-term overhead resistance levels at $13.84 to $13.95 with high volume. Traders should now look for long-biased trades in GDP as long as it's trending above its 200-day at $12.05, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.10 million shares. If that breakout hits soon, then GDP will set up to re-test or possibly take out its next major overhead resistance levels at $15.06 to $15.19. Any high-volume move above $15.19 will then put $16.88 to $17.35 into range for shares of GDP. Constellation Brands Constellation Brands (STZ) operates as a wine company in the U.S., Canada, the U.K., Australia and New Zealand. This stock is trading up 1.1% at $42.25 in recent trading. Today's Volume: 5.79 million Average Volume: 4.24 million Volume % Change: 156% From a technical perspective, STZ is bouncing higher here right above some near-term support at $41.13 with above-average volume. This stock recently gapped up huge from around $32 to $44.20 with heavy upside volume. Following that gap up, shares of STZ have consolidated around $42 to $41 and its now quickly moving within range of triggering a near-term breakout trade. That trade will hit if STZ manages to take out some near-term overhead resistance at $44.20 with high volume. Traders should now look for long-biased trades in STZ as long as it's trending above $41.13 to $40 and then once it sustains a move or close above $44.20 with volume that hits near or above 4.24 million shares. If that breakout triggers soon, then STZ will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $48 to $50.
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