52-Week Range: $1.04-$2.71
Thursday's Volume: 232,000
Three-Month Average Volume: 393,038 From a technical perspective, PCO jumped higher here right off its 50-day moving average of $2.03 with lighter-than-average volume. This stock recently formed a major bottoming chart pattern at $1.88, $1.84, $1.89 and $1.85. Since forming that bottom, shares of PCO have started to uptrend and move within range of triggering a near-term breakout trade. That trade will hit if PCO manages to take out some near-term overhead resistance levels at $2.20 to $2.22 with high volume. Traders should now look for long-biased trades in PCO as long as it's trending above its 50-day at $2.03 or its 200-day at $1.95 and then once it sustains a move or close above those breakout levels with volume that hits near or above 393,038 shares. If that breakout hits soon, then PCO will set up to re-test or possibly take out its next major overhead resistance levels at $2.50 to $2.70. Shares of PCO could even tag $3 if those levels get taken out with strong volume. To see more stocks that are making notable moves higher today, check out the Stocks Under $10 Moving Higher portfolio on Stockpickr. -- Written by Roberto Pedone in Delafield, Wis.
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