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>>5 Stocks Under $10 Set to Soar
From a technical perspective, PKD ripped higher here right off its 50-day moving average at $4.32 and back above its 200-day moving average at $4.55 with above-average volume. This trend with volume back above both of its key moving averages is signaling a potentially bullish move higher for PKD. Shares of PKD are now quickly moving within range of triggering a major breakout trade. That trade will hit if PKD manages to take out some near-term overhead resistance levels at $4.76 to $4.94 and then once it clears more resistance at $5.23 with high volume.
Traders should now look for long-biased trades in PKD as long as it's trending above its 50-day at $4.32 or above some more near-term support at $4.15 and then once it sustains a move or close above those breakout levels with volume that hits near or above 707,794 shares. If that breakout triggers soon, then PKD will set up to re-test or possibly take out its next major overhead resistance levels at $6.18 to $6.50.