Allied Nevada Gold

Allied Nevada Gold ( ANV) is a U.S.-based gold producer focused on mining, development and exploration properties in the state of Nevada. This stock is trading up 2.2% at $38.52 in recent trading.

Today's Volume: 794,000

Average Volume: 718,058

Volume % Change: 115%

From a technical perspective, ANV is bouncing modestly to the upside here with above-average volume. This move is quickly pushing ANV within range of triggering a major breakout trade. That trade will hit once ANV manages to take out some key overhead resistance levels at $40.50 to $40.95 with high volume.

>>5 Stocks Seth Klarman Loves

Traders should now look for long-biased trades in ANV as long as it's trending above today's low of $37.51, and then once it sustains a move or close above those breakout levels with volume that hits near or above 718,058 shares. If that breakout triggers soon, then ANV will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $45.90.

As of the most recently reported period, ANV was one of Seth Klarman's Baupost Group holdings.

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