Professional Documents
Culture Documents
Chart courtesy of www.StockCharts.com In early 2012, Hercules was trading near $5.40, and as the losses piled up, it traded lower, hitting a low of $2.91 in June. Since then, Hercules has gained momentum to the upside. Recently, the stock broke above the highs that were placed earlier this year. Currently, Hercules appears to be in a breakout mode, where resistance at $5.40 was taken out on heavy volume and increased momentum. The oil producer is also trading above its 50- and 200-day moving averages. Looking from a fundamental and technical perspective, Hercules is a solid company with great potential. Recent price action suggests that the stock price might go higher. At the same time, investors should be cautious if the stock price goes below $5.40. If it occurs, then the breakout will become invalid.