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DELAFIELD, Wis. (Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.
Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it's always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock.
With that in mind, let's take a look at several stocks rising on unusual volume today.
World Fuel Services
World Fuel Services (INT) a fuel logistics company, engages in marketing, selling, and distributing aviation, marine, and land fuel products and related services worldwide. This stock closed up 2.2% at $35.77 in Monday's trading session.
Monday's Volume: 1.84 million
Three-Month Average Volume: 439,677
Volume % Change: 356%
From a technical perspective, INT bounced higher here off its intraday low of $34.57 with strong upside volume. This stock recently dropped sharply from its high of $42.77 to its low of $34.57. During that drop, shares of INT were consistently making lower highs and lower lows, which is bearish technical price action. That move has now pushed shares of INT close to oversold territory, since its current relative strength index reading is 33.34. Oversold can always get more oversold, but it's also an area where a stock can experience a powerful bounce higher from.
Traders should now look for long-biased trades in INT as long as it's trending above its recent low of $34.57 and then once it sustains a move or close above $36.70 with volume that's near or above 439,677 shares. If we get that move soon, then INT will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $39.74 to its 50-day moving average of $39.82.
InterOil (IOC) is engaged in the exploration and production of oil and gas properties in Papua New Guinea and its surrounding regions. This stock closed up 6.8% at $88.47 in Monday's trading session.
Monday's Volume: 1.27 million
Three-Month Average Volume: 735,650
Volume % Change: 150%
From a technical perspective, IOC ripped higher here right above some near-term support at $80.58 with above-average volume. This move is quickly pushing shares of IOC within range of triggering a major breakout trade. That trade will hit if IOC manages to take out some near-term overhead resistance at $88.81 to $89.97 with high volume.
Traders should now look for long-biased trades in IOC as long as it's trending above Monday's low of $82.94 or above $85 and then once it sustains a move or close above those breakout levels with volume that's near or above 735,650 shares. If that breakout hits soon, then IOC will set up to re-test or possibly take out its 52-week high at $106.44.
To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.