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Vanguard Natural Resources(VNR - Get Report) focuses on the acquisition and development of mature, long-lived natural gas and oil properties in the U.S. This stock is trading up 3.8% at $28.81 in recent trading.
Today's Volume: 823,000
Average Volume: 536,000
Volume % Change: 171%
>>This Rally Is in Make-or-Break Mode: 5 Must-See Charts
From a technical perspective, VNR is gapping higher here right above its 50-day moving average at $27.82 with above-average volume. This move has started to push shares of VNR into breakout territory, since the stock has cleared some near-term overhead resistance levels at $28.55 to $28.74. Shares of VNR are now quickly moving within range of triggering another breakout trade. That trade will hit if VNR manages to take out some more resistance at $29.01 with high volume.
Traders should now look for long-biased trades in VNR as long as it's trending above $28.55 or today's low at $28.18 and then once it sustains a move or close above $29.01 with volume that hits near or above 536,000 shares. If that breakout triggers soon, then VNR will set up to trend north of $30.