Market Overview

Shares of American Oil & Gas are Moving Higher on 1.2x Above-Average Volume (AEZ)

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(via COMTEX News Network)--

Shares of American Oil & Gas (AMEX: AEZ) are trading up 1.1% to $10.11 today on above average volume. Approximately 640,000 shares have traded hands today vs. average 30-day volume of 551,000 shares.

Spikes in volume can validate a breakout or signify a potential turning point. As such, SmarTrend will continue to monitor shares of AEZ to see if this bullish momentum will continue.

SmarTrend currently has shares of American Oil & Gas in an Uptrend and issued the Uptrend alert on May 12, 2010 at $7.30. The stock has risen 36.9% since the Uptrend alert was issued.

In the last five trading sessions, the 50-day MA has climbed 2.09% while the 200-day MA has risen 1.7%.

In the past 52 weeks, shares of American Oil & Gas have traded between a low of $3.40 and a high of $10.46 and are now at $9.98, which is 194% above that low price.

Write to Chip Brian at cbrian@tradethetrend.com

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