Callon PetroleumCallon Petroleum ( CPE) is engaged in the exploration, development, acquisition and production of oil and gas properties in the Permian Basin in West Texas, the Gulf of Mexico and the Haynesville Shale in Louisiana. This stock is trading up 11.2% to $3.97 in recent trading. Today's Range: $3.68-$4.00 52-Week Range: $3.28-$6.55 Volume: 591,000 Three-Month Average Volume: 327,415 From a technical perspective, CPE is ripping higher here and breaking out above some near-term overhead resistance at $3.87 with above-average volume. This move is coming after shares of CPE recently downtrended from $5.78 to its low of $3.28. The bounce off that $3.28 low has marked a V-shaped bottom and now shares of CPE are breaking out. Traders should now look for long-biased trades in CPE as long as it's trending above $3.87 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 327,415 shares as bullish. If CPE can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day moving average of $4.73 to its 200-day moving average at $5.03. GrouponGroupon ( GRPN) provides a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. The company features a daily deal on the best stuff to do, see, eat and buy. This stock is trading up 6.3% to $6.50 in recent trading. Today's Range: $6.15-$6.55 52-Week Range: $2.60-$14.93 Volume: 14.45 million Three-Month Average Volume: 17.61 million From a technical perspective, GRPN is ripping higher here and breaking out above some near-term overhead resistance at $6.36 with decent upside volume. This move is starting to push shares of GRPN into its previous gap-down zone from last August that started at $8.05. Traders should now look for long-biased trades in GRPN as long as it's trending above $6.36 or today's low of $6.15 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 17.61 million shares. If GRPN can maintain that trend, then this stock has a great chance of trending north of $8 a share, after that gap gets filled. If GRPN can get into that gap with volume, then some possible upside targets are $9 to $10.