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5 Stocks Insiders Love Right Now

Emerald Oil

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One more stock with some big insider buying is independent exploration and production player Emerald Oil ( EOX), which mainly develops operated wells in the Williston Basin in North Dakota and Montana. Insiders are buying this stock into strength, since shares are up by 22% so far in 2013.

Emerald Oil has a market cap of $167 million and an enterprise value of $140 million. This stock trades at a cheap valuation, with a forward price-to-earnings of 15.30. Its estimated growth rate for this year is 68.4%, and for next year it's pegged at 800%. This is a cash-rich company, since the total cash position on its balance sheet is $35.79 million and its total debt is $15.18 million. After you back out the debt, Emerald has $20.61 million of total cash on its balance sheet.

A beneficial owner just bought 2,785,600 shares, or about $16.35 million worth of stock, at $5.87 per share.

From a technical perspective, EOX is currently trending above both its 50-day and 200-day moving averages, which is bullish. This stock has been trending sideways for the last month two months and change, with shares moving between $7.18 on the upside and $5.81 on the downside. A high-volume move above the upper-end of its recent range could trigger a major breakout trade for shares of EOX.

If you're bullish on EOX, then look for long-biased trades as long as this stock is trending above its 200-day at $6.27 or above more support at $5.89, and then once it breaks out above some near-term overhead resistance levels at $7.18 to $7.49 a share with high volume. Look for a sustained move or close above those levels with volume that hits near or above its three-month average action of 324,632 shares. If that breakout triggers soon, then EOX will set up to re-test or possibly take out its next major overhead resistance levels at $9.66 to $11 a share.

To see more stocks with notable insider buying, check out the Stocks With Big Insider Buying portfolio on Stockpickr.

-- Written by Roberto Pedone in Madison, Wis.


Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Madison, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including and . You can follow Pedone on Twitter at or @zerosum24.
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