EXCO Resources stock for april 30-may 4 2012

EXCO Resources stock for april 30-may 4 2012 : EXCO Resources Inc (NYSE:XCO) displayed relative strength last week and broke out above resistance at the $6.76 level. XCO still showing strong accumulation on up days with high volume and selling on low volume.

The overall outlook for the stock appears bullish IMO. Only a close below $6.5 would negate the bullish outlook for the stock. A close above $7.17 would reinstate short-term bullish trend that could propel the stock to the next target zone of $7.88.

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