52-Week Range: $6.56-$13.03
Three-Month Average Volume: 129,167 Shares of AMRC are soaring higher ahead of the company's earnings report, which is due out on May 9 before the market opens. From a technical perspective, AMRC is ripping to the upside here right off some near-term support at $7.01 and back above its 50-day at $7.46 with above-average volume. This move is quickly pushing shares of AMRC within range of triggering a breakout trade. That trade will hit if AMRC manages to take out some near-term overhead resistance levels at $7.81 to $8.22 with high volume. Traders should now look for long-biased trades in AMRC as long as it's trending above $50-day at $7.46 or above $7.25 and then once it sustains a move or close above $7.81 to $8.22 with volume that hits near or above 129,167 shares. If that breakout triggers soon, then AMRC will set up to re-test or possibly take out its next major overhead resistance levels at $8.54 to $9 Traders should look to trade this breakout before or after earnings, but holding through earnings always holds additional risks that could change the dynamics of the technical setup.