Molycorp ( MCP) is a development stage company, engages in the production and sale of rare earth oxides in the western hemisphere. This stock is trading up 3.1% at $12.31 in recent trading. Today's Volume: 8.6 million Average Volume: 5.8 million Volume % Change: 229% >>5 Stocks Under $10 Poised for Breakouts From a technical perspective, MCP is moving notably higher here with heavy volume. This move is quickly pushing MCP within range of triggering a near-term breakout trade. That trade will hit once MCP takes out some near-term overhead resistance levels at $12.54 to $13.20 with high volume. Traders should now look for long-biased trades in MCP once it sustains a move or close above those breakout levels with volume that's near or above 5,801,000 shares. If that breakout triggers soon, then MCP will have a great chance of re-filing its previous gap from early August that started above $16. On the flip side, I would avoid MCP or look for short-biased trades if it fails to trigger that breakout and then drops below some major near-term support at $10.72 with high volume.
Shares of Homeowners Choice (Nasdaq:HCII) have taken a tremendous swing upward. The stock is trading at $13.50 as of 12:49 p.m. ET, 21.1% above Thursday's closing price of $11.15. Volume is at 106,349, 7.8 times the daily average of 13,700.