52-Week Range: $1.85-$3.22
Thursday's Volume: 3.70 million
Three-Month Average Volume: 634,385 From a technical perspective, CVO spiked sharply higher here right off its 50-day moving average of $2.95 with heavy upside volume. This stock has been uptrending for the last month and change, with shares moving higher from its low of $2.69 to its recent high of $3.22. During that uptrend, shares of CVO have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CVO within range of triggering a big breakout trade. That trade will hit if CVO manages to take out some near-term overhead resistance at $3.20 to its 52-week high at $3.22 with high volume. Traders should now look for long-biased trades in CVO as long as it's trending above Thursday's low of $2.87 or above more support at $2.80 and then once it sustains a move or close above those breakout levels with volume that hits near or above 634,385 shares. If that breakout hits soon, then CVO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $3.50 to $4.