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2 Stocks Surging on Unusual Volume - views
MADISON, 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.
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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.
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3D Systems (DDD) manufactures and sells 3D content-to-print solutions and 3D printing systems. This stock is trading up 7.5% to $47.15 in recent trading.
Today's Volume: 5.92 million
Average Volume: 4.84 million
Volume % Change: 145%
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From a technical perspective, DDD are ripping higher here and breaking out above some key overhead resistance levels at $44.91 to $45.63 with above-average volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of $27.88 to its intraday high of $47.35. During that uptrend, shares of DDD have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DDD within range of triggering a major breakout trade. That trade will hit if DDD manages to clear its 52-week and all-time high at $47.99 with high volume.
Traders should now look for long-biased trades in DDD as long as it's trending above $44 or $45.63, and then once it sustains a move or close above $47.99 with volume that hits near or above 4.84 million shares. If that breakout triggers soon, then DDD will set up to enter new all-time high territory, which is bullish technical price action. Some possible upside targets off that breakout are $55 to $60, or even $65.
Visteon (VC) is a supplier of automotive systems, modules and components to original equipment manufacturers. This stock is trading up 1.5% at $62.78 in recent trading.
Today's Volume: 694,000
Average Volume: 473,560
Volume % Change: 150%
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From a technical perspective, VC is trending modestly higher here with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $52.26 to its intraday high of $63.29. During that uptrend, shares of VC have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of VC within range of triggering a near-term breakout trade. That trade will hit if VC manages to take out some near-term overhead resistance at $63 with high volume.
Traders should now look for long-biased trades in VC as long as it's trending above today's low of $61.86 and then once it sustains a move or close above $63 with volume that hits near or above 473,560 shares. If that breakout triggers soon, then VC will set up to re-test or possibly take out its next major overhead resistance levels at $65 to $70.
To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Madison, Wis.
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At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Madison, 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.