Exco Resources

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Exco Resources ( XCO) is an independent oil and natural gas company engaged in the exploration, exploitation, development and production of onshore the U.S. oil and natural gas properties with a focus on shale resource plays. This stock is trading up 2% to $6.88 in recent trading. Today's Range: $6.82-$7.04 52-week Range: $5.65-$19.20 Volume: 3.2 million Three-Month Average Volume: 6 million

From a technical perspective, XCO is flirting with taking out its 50-day moving average of $6.86 here with light volume. At last check, this stock has hit an intraday high of $7.04, but it has since then pulled back to its current price of just under $6.90.

Traders should now watch for a major breakout trade to trigger for XCO. That trade will hit once XCO takes out some near-term overhead resistance at $7.05 with high-volume. Traders should now look for long-biased trades if XCO can sustain a move or close above $7.05 with volume that's near or above 6 million shares. If we get that action today or soon, then look for XCO to re-test or possibly take out its next significant overhead resistance level of $8.20. If that $8.20 level gets hit and taken out, then XCO could easily tag its 200-day moving average at $8.84 in the near future.

Exco shows up on a recent list of 25 Energy Stocks to Consider.

To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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