Vantage Drilling

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Vantage Drilling ( VTG) is an international offshore drilling company focused on operating a fleet of drilling unit. This stock is trading up 3.4% at $1.52 in recent trading.

Today's Range: $1.42-$1.58

52-Week Range: $0.97-$2.08

Volume: 2.7 million

Three-Month Average Volume: 1.7 million

Shares are VTG are moving nicely higher today after the company beat Wall Street earnings estimates by one cent, as revenues rose 42.9% year-over-year to $121.3 million vs. estimates of $119.85 million.

From a technical perspective, VTG is flirting with a major breakout trade today since the stock briefly crossed and touched above some near-term overhead resistance levels at $1.56 to $1.58 with monster volume.

Market players should now watch for a sustained high-volume move and close over $1.58 to signal that this stock wants to trend significantly higher. Look for volume on that move that's near or well above 1.7 million shares. If we get that action soon, look for VTG to trade back toward $2 a share quickly.

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