Gastar Exploration

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Gastar Exploration ( GST) is an independent energy company, engaged in the exploration, development and production of natural gas and oil in the U.S. This stock is trading up 2.8% to $1.26 in recent trading.

Today's Range: $1.24-$1.30

52-Week Range: $0.70-$3.36

Volume: 186,000

Three-Month Average Volume: 516,159

From a technical perspective, GST is bouncing modestly higher here right above some near-term support $1.15 with light volume. This stock has been uptrending strongly for the last month and change, with shares soaring from a low of 70 cents to its recent high of $1.38. During that move, shares of GST have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed GST within range of triggering a major breakout trade. That trade will hit if GST clears some near-term overhead resistance levels at $1.38 to $1.39 with high volume.

Traders should now look for long-biased trades in GST as long as it's trending above $1.15, and then once it sustains a move or close above those breakout levels with volume that hits near or above 516,159 million shares. If that breakout triggers soon, then GST will set up to re-test or possibly take out its next major overhead resistance level at its 200-day moving average of $1.77 or possible even $1.89 to $1.96.

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