FX Energy

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FX Energy ( FXEN) is an independent oil and gas exploration and production company with production, appraisal and exploration activities in Poland. This stock is trading up 6.1% at $8.46 in recent trading.

Today's Range: $7.95-$8.51

52-Week Range: $3.67-$8.25

Volume: 534,000

Three-Month Average Volume: 319,451

>>9 Oil Stocks With Hot Prospects

From a technical perspective, FXEN is ripping solidly to the upside here with above-average volume. This move has spiked FXEN into breakout territory, since the stock has pushed above some near-term overhead resistance levels at $8.19 to $8.25.

Traders should now look for long-biased trades in FXEN as long as it's trending above $7.75 with strong upside volume flows. I would consider any upside volume day that registers near or above 319,451 shares as bullish. If FXEN can maintain that trend, especially above those breakout levels, then this stock will have a great chance of re-testing or possibly taking out its next significant overhead resistance level at $10.

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