One stock that insiders are snapping up here is Continental Resources ( CLR), an independent crude oil and natural gas exploration and production player with operations in the North, South and East regions of the U.S. Insiders are buying this stock into some slight strength here since shares are up over 12% so far in 2012. Continental Resources has a market cap of $13.4 billion and an enterprise value of $15.7 billion. This stock trades at a reasonable valuation, with a trailing price-to-earnings of 21.28 and a forward price-to-earnings of 16.37. Its estimated growth rate for this year is 29.6%, and for next year it's pegged at 30.9%. This is not a cash-rich company, since the total cash position on its balance sheet is $42.68 million and its total debt is $1.89 billion. The CEO and chairman of the board just bought 100,000 shares, or around $7.16 million worth of stock, at $71.21 to $71.51 per share. >>5 Earnings Stocks Poised to Pop From a technical perspective, CLR is currently trading below its 50-day moving average and above its 200-day moving average, which is neutral trendwise. This stock has been downtrending for the past three months from a high of $97.19 to a recent low of $70.22 a share. That low occurred right after CLR bounced right near its 200-day moving average of $70.61, and it's now trading at around $75.30 a share. If you're in the bull camp on CLR, then I would only look for long-biased trades once this stock triggers a break out above some near-term overhead resistance at $80 a share with high-volume. Look for volume on that move that's near or well above its three-month average action of 1.3 million shares. If we get that move, then I would add to any long positions cone CLR takes out its 50-day moving average at $83.11 with volume. Target a run back toward its May high of $91.82 a share or possibly higher. I would simply avoid CLR or look for short-biased trades if it fails to trigger that breakout, and then drops below its 200-day and some near-term support at $70.22 with high volume. A high-volume move below those levels should setup CLR to re-test its next significant support level at $61.61 a share.