SAExploration Holdings, Inc. SAEX shares are trading higher by $0.09 at $8.03 in Monday's session. The issue has backed off it October 25 ($11.67) high that was instigated by the news that the company would receive a $24 million tax credit from the Alaskan state government.
Even on the day of the spike, the issue faded to end that session at $7.95. Now that the volatility from that day has subsided, the issue has found a trading range.
Over the past four sessions (including today), the issue has been in a $1.00 trading range from $7.70 to $8.70. It should be noted that range was established the day after its spike and has not been exceeded.
At this time, it has made three lower highs since bottoming at $7.70, but the subsequent rallies have been stymied at the $8.50 area. Its highest close since the rally has been $8.30 and its only close under $8 was on Friday, when it ended the session at $7.93.
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