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3 Tech Stocks Spiking on Big 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.
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.
Juniper Networks (JNPR) designs, develops & sells products & services that provide its customers with network infrastructure built on simplicity, security, openness & scale. This stock closed up 6.6% at $18.54 on Wednesday.
Wednesday's Volume: 15.26 million
Average Volume: 7.50 million
Volume % Change: 114%
Shares of JNPR ripped higher on Wednesday after the CEO said at BoFA conference that he's seeing increasing CapEx trends for service providers.
From a technical perspective, JNPR bounced sharply higher here right off its 50-day moving average of $17.50 with heavy upside volume. This stock has been uptrending strong for the last month, with shares soaring higher from its low of $15.62 to its intraday high of $18.68. During that move, shares of JNPR have been mostly making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of JNPR within range of triggering a near-term breakout trade. That trade will hit if JNPR manages to take out its 200-day moving average at $18.70 and then once it clears more resistance at $19.05 with high volume.
Traders should now look for long-biased trades in JNPR as long as it's trending above its 50-day at $17.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 15.26 million shares. If that breakout triggers soon, then JNPR will set up to re-test or possibly take out its next major overhead resistance levels at $21.50 to $22, or even $23.
AutoNavi (AMAP) provides digital map content and navigation and location-based solutions in China. This stock closed up 5% at $12.53 on Wednesday.
Wednesday's Volume: 740,000
Average Volume: 462,875
Volume % Change: 50%
Shares of AMAP spiked higher on Wednesday after the company announced a repurchase program of up 2.5 million of its American depository shares.
From a technical perspective, AMAP bounced higher here right above its 50-day moving average of $11.53 with above-average volume. This move is quickly pushing shares of AMAP within range of triggering a near-term breakout trade. That trade will hit if AMAP manages to clear some near-term overhead resistance at $13.50 with high volume.
Traders should now look for long-biased trades in AMAP as long as it's trending above $12.10 and then once it sustains a move or close above $13.50 with volume that hits near or above 462,875 shares. If that breakout triggers soon, then AMAP will set up to re-test or possibly take out its 52-week high at $15.19.
Audience (ADNC) is a provider of intelligent voice and audio solutions that improve voice quality and the user experience in mobile devices. This stock closed up 3.4% at $14.07 on Wednesday.
Wednesday's Volume: 392,000
Average Volume: 254,861
Volume % Change: 50%
From a technical perspective, ADNC bounced notably higher here right above some near-term support at $13.38 with above-average volume. This stock has been downtrending badly for the last month, with shares dropping from its high of $16.91 to its recent low of $13.38. During that move, shares of ADNC have been consistently making lower highs and lower lows, which is bearish technical price action. That said, the downside volatility for ADNC saw a trend change here, and the stock is now quickly moving within range of triggering a near-term breakout trade. That trade will hit if ADNC manages to take out its 50-day moving average at $14.97 with high volume.
Traders should now look for long-biased trades in ADNC as long as it's trending above Wednesday's low of $13.80 or above some key near-term support at $13.38 and then once it sustains a move or close above $14.97 with volume that this near or above 254,861. If that breakout triggers soon, then ADNC will set up to re-test or possibly take out its next major overhead resistance levels at $16 to $16.50.
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.
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.