Vantage DrillingVantage Drilling ( VTG) is an international drilling company engaged in contract drilling units, related equipment and work crews, on a dayrate basis to drill oil and natural gas wells for its customers. This stock closed up 4% to $1.80 in Thursday's trading session. Thursday's Range: $1.73-$1.81 52-Week Range: $1.53-$2.06 Thursday's Volume: 4.14 million Three-Month Average Volume: 1.5 million From a technical perspective, VTG spiked notably higher here back above both its 50-day moving average at $1.76 and its 200-day moving average at $1.78 with monster upside volume. This stock has been trending range bound for the last two months, with shares moving between $1.68 on the downside and $1.84 on the upside. Shares of VTG are now starting to move within range of triggering a breakout trade above the upper-end of it recent sideways trading chart pattern. That breakout will hit if VTG manages to take out some near-term overhead resistance levels at $1.82 to $1.84 with high volume. Traders should now look for long-biased trades in VTG as long as it's trending above some near-term support levels at $1.72 to $1.68 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.5 million shares. If that breakout triggers soon, then VTG will set up to re-test or possibly take out its 52-week high at $2.06. Any high-volume move above that level will then give VTG a chance to tag $2.30. Coronado BiosciencesCoronado Biosciences ( CNDO) is a biopharmaceutical company focused on novel immunotherapy biologic agents for autoimmune diseases and cancer. This stock closed up 9.2% to $8.30 in Thursday's trading session. Thursday's Range: $7.38-$8.37 52-Week Range: $4.00-$12.70 Thursday's Volume: 523,000 Three-Month Average Volume: 514,053 From a technical perspective, CNDO ripped sharply higher here back above its 50-day moving average of $8.15 and right into its 200-day moving average at $8.34 with above-average volume. This move is starting to push shares of CNDO within range of triggering a near-term breakout trade. That trade will hit if CNDO manages to take out some near-term overhead resistance levels at Thursday's high of $8.37 to $8.84 with high volume.
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100.