Houston American Energy

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Houston American Energy ( HUSA) is an oil and gas exploration and production company. This stock is trading up 7.4% to $1.65 in recent trading.

Today's Range: $1.56-$1.81

52-Week Range: $1.50-$20.90

Volume: 672,000

Three-Month Average Volume: 930,423

>>7 Energy Stocks That Investors Have All Wrong

From a technical perspective, HUSA finding buying interest here right off some major near-term support at $1.50 to $1.55. Those support levels have held up for HUSA over the past month.

Traders should now look for long-biased trades in HUSA if it can manage to trigger a near-term breakout trade. That trade will hit once some near-term overhead resistance at $1.87 is taken out with volume. Look for a sustained move or close above that level on volume that's near or above 930,423 shares. If we get that action soon, then this stock has tremendous upside towards $3.

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