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4 Stocks Spiking 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.
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.
B&G Foods (BGS) manufactures sells and distributes shelf-stable food and household products. This stock is trading up 6.8% at $31.17 in recent trading.
Today's Volume: 455,000
Average Volume: 311,394
Volume % Change: 128%
Shares of BGS are ripping higher today after the company said it has agreed to buy Robert's American Gourmet Food, which owns the Pirate's Booty brand, for $195 million in cash.
From a technical perspective, BGS is trending higher here right off its 200-day moving average at $29.56 and back above its 50-day moving average at $29.88 with above-average volume. This move is quickly pushing shares of BGS within range of triggering a near-term breakout trade. That trade will hit if BGS manages to clear some near-term overhead resistance levels at $31.50 to $31.69 with high volume.
Traders should now look for long-biased trades in BGS as long as it's trending above some resistance at $30.47 or above its 50-day at $29.88, and then once it sustains a move or close above those breakout levels with volume that hits near or above 311,394 shares. If that breakout triggers soon, then BGS will set up to re-test or possibly take out its next major overhead resistance levels at $32.82 to its 52-week high at $33.14.
YY (YY) company is a communication social platform that engages users in real-time online group activities through voice, text and video. This stock is trading up 6.2% at $30.57 in recent trading.
Today's Volume: 1.44 million
Average Volume: 498,316
Volume % Change: 337%
From a technical perspective, YY is ripping higher here and breaking out above some near-term overhead resistance levels at $29.01 to $30.09 with heavy upside volume. This move has started to push shares of YY into all-time high territory, which is bullish technical price action.
Traders should now look for long-biased trades in YY as long as it's trending above either of those key breakout levels at $30.09 or above $29.01 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 498,316 shares as bullish. If YY can maintain this trend, then this stock will continue to trend into all-time high territory. Some possible upside targets are $35 to $40.
Celldex Therapeutics (CLDX) is a biopharmaceutical company focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases. This stock closed up 4.9% at $15.29 in recent trading.
Today's Volume: 2.57 million
Average Volume: 1.53 million
Volume % Change: 216%
From a technical perspective, CLDX is gapping sharply higher here and printing new 52-week highs with above-average volume. This move has firmly pushed shares of CLDX into breakout territory, since the stock has trended well above some near-term overhead resistance levels at $13.98 to $14.09.
Traders should now look for long-biased trades in CLDX as long as it's trending above today's low of $14.74 or above $13.98 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 1.53 million shares. If CLDX can maintain that move, then this stock will set up to enter new 52-week-high territory above $15.71, which is bullish technical price action. Some possible upside targets off that move are $17 to $20.
Boulder Brands (BDBD) is a marketer of functional food products under the Smart Balance, Earth Balance and Bestlife trademarks. This stock is trading up 7.2% at $12.49 in recent trading.
Today's Volume: 829,000
Average Volume: 602,258
Volume % Change: 140%
From a technical perspective, BDBD is ripping higher here and making a continuation move higher off its recent breakout above resistance at $11.40 with above-average volume. This move is quickly pushing shares of BDBD within range of triggering another major breakout trade. That trade will hit if BDBD manages to take out some past overhead resistance levels at $13.86 to its 52-week high at $13.99 with high volume.
Traders should now look for long-biased trades in BDBD as long as it's trending above $11.40 or above $12 and then once it sustains a move or close above those breakout levels with volume that hits near or above 602,258 shares. If that breakout triggers soon, then BDBD will set up to enter new 52-week-high territory above $13.99, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $17.
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.