Permian Basin Royalty Trust

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Permian Basin Royalty Trust ( PBT) owns overriding royalty rights in several mineral properties in the U.S. This stock closed up 1.6% at $13.85 in Monday's trading session.

Monday's Volume: 209,000
Three-Month Average Volume: 102,792
Volume % Change: 95%

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From a technical perspective, PBT trended modestly higher here right above its 50-day moving average of $13.30 with above-average volume. This move pushed shares of PBT into breakout territory, since the stock took out some near-term overhead resistance at $13.77. Shares of PBT are now quickly moving within range of triggering another big breakout trade. That trade will hit if PBT manages to take out a key double top resistance zone at $14.07 with high volume.

Traders should now look for long-biased trades in PBT as long as it's trending above its 50-day at $13.30 and then once it sustains a move or close above that breakout level with volume that's near or above 102,792 shares. If that breakout hits soon, then PBT will set up to re-test or possibly take out its next major overhead resistance levels at $14.40 to $15.46. Any high-volume move above those levels will then put $17 to $18 into range for shares of PBT.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Delafield, Wis.


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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including and You can follow Pedone on Twitter at or @zerosum24.

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