Mid-Con Energy Partners
Mid-Con Energy Partners (MCEP - Get Report) owns, operates, acquires, exploits and develops oil and natural gas producing properties in North America. This stock closed up 3.4% at $23.24 in Mondays trading session.
Mondays Volume: 163,000
Three-Month Average Volume: 71,888
Volume % Change: 149%
From a technical perspective, MCEP spiked higher here back above its 200-day moving average of $23.45 with above-average volume. This move is quickly pushing shares of MCEP within range of triggering a near-term breakout trade. That trade will hit if MCEP manages to take out Monday's high of $23.39 to its 50-day moving average of $23.45 with high volume.
Traders should now look for long-biased trades in MCEP as long as its trending above Mondays low of $22.57 or above more near-term support at $21.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 71,888 shares. If that breakout hits soon, then MCEP will set up to re-test or possibly take out its next major overhead resistance levels at $24.69 to its 52-week high at $27.05.
To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.