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8 Stocks Rising on Monster Volume - views
WINDERMERE, Fla. (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. Many times when above average volume moves into 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.
Let's take a look at a number of stocks rising on unusual volume today.
MarketAxess (MKTX) operates an electronic trading platform that allows investment industry professionals to trade corporate bonds and other types of fixed-income instruments. The stock is trading up 10.5% at $33.75 in recent trading.
Today’s Volume: 2.3 million
Average Volume: 180,889
Volume % Change: 1772%
Shares of MKTX are soaring today after the company priced a secondary offering of around 3.6 million shares at $30.50 each.
From a technical perspective, MKTX is starting to break out today above some near-term overhead resistance at $33.44 with monster volume.
Market players should now look for a sustained high-volume move and close over $33.44 and near its daily high of $33.80 to signal that this stock wants to trend much higher. If we get that action today, then look for this stock to re-test its 52-week highof $35.42 and potentially take that level out.
Angie’s List (ANGI) operates a consumer-driven solution for its members to research, hire, rate and review local professionals for critical needs, such as home, health care and automotive services. The stock is trading up 11% at $16.20 in recent trading.
Today’s Volume: 937,000
Average Volume: 294,098
Volume % Change: 558%
Shares of ANGI are ripping higher today after the company reported that it narrowed its losses and revenue improved sharply during the fourth quarter. Revenue soared by 70% to $27.4 million, as it lost 10 cents per share, down from 14 cents a share a year ago.
From a technical perspective, ANGI is trading within range of a major breakout trade if this stock can manage to take out $17.97 to $18.75 (all-time high) with heavy volume. At last check, ANGI hit a daily high today of $17.58, but it has since then pulled back to its current price of around $16.20.
Market players should avoid this stock under $16.75, or get long over $16.75 and anticipate the breakout over those bigger levels at $17.97 to $18.75. Look for volume that’s near or above 294,098 shares on any future breakout.
Liberty Interactive (LINTA) is a holding company, and through its subsidiaries, is engaged in the video and online commerce, media, communications and entertainment industries. The stock is trading up 3.3% at $18.58 in recent trading.
Today’s Volume: 13.9 million
Average Volume: 3.5 million
Volume % Change: 522%
Shares of LINTA are moving nicely to the upside today after the company said it plans to recapitalize into two tracking stocks.
From a technical perspective, LINTA is starting to flirt with a major breakout trade today since the stock has challenged some past overhead resistance at $18.65 on monster volume. Briefly, shares of LINTA traded as high as $19.07, but it has since pulled back to its current price near $18.50.
Traders should look for long biased trades in LINTA if the stock is trending above that key breakout level of $18.65 with strong upside volume.
Big bets on LINTA come from Daniel Loeb's Third Point, which added 1 million shares of the stock in the fourth quarter for a total position of 3 million, and Jana Partners, which owned nearly 4 million shares as of Dec. 31.
Hollysys Automation Technologies
Hollysys Automation Technologies (HOLI) is a provider of automation and control technologies and applications in the People’s Republic of China. This stock is trading up 6.3% at $10.50 in recent trading.
Today’s Volume: 644,000
Average Volume: 213,748
Volume % Change: 356%
From a technical perspective, HOLI is starting to trigger a major breakout trade today now that this stock is moving above some near-term overhead resistance at $10.29 with big volume.
Traders should now watch for a sustained high-volume move and close above $10.29 and near its daily high of $10.66 to signal that HOLI wants to trend much higher. If we get that close today, then look for HOLI to re-test its next significant overhead resistance levels at $11.54 to $12.45 in the near future.
Foster Wheeler (FWLT) designs, engineers and constructs onshore and offshore upstream oil and gas processing facilities. This stock is trading up 4.7% at $24.92 in recent trading.
Today’s Volume: 2.97 million
Average Volume: 1.8 million
Volume % Change: 192%
Shares of FWLT are ripping higher today after the company posted higher fourth quarter profits that lagged Wall Street estimates hurt by weakness at its global engineering and construction group.
From a technical perspective, FWLT is starting to trigger a big breakout trade today now that this stock is moving above some near-term overhead resistance at $24.18 with monster volume.
Traders should now watch for FWLT to take out its next significant overhead resistance level at $25.54 with volume. If we can get a strong close above both of those breakout levels, then FWLT has a great chance to trade up to $30 in the near future.
SXC Health Solutions
SXC Health Solutions (SXCI) is a provider of pharmacy benefit management services and healthcare information technology solutions. This stock is trading up 6.1% at $67.41 in recent trading.
Today’s Volume: 780,000
Average Volume: 345,272
Volume % Change: 267%
Shares of SCXI are ripping to the upside today after the company said its net income soared by 61% in the fourth quarter as both pharmacy benefit management and health care information technology revenue improved.
From a technical perspective, SXCI has started to flirt with a major breakout trade today since the stock has started to move above some overhead resistance levels at $65.95 to $66.40 with heavy volume.
Market players should now watch for a sustained high-volume move and close above those levels to signal that SXCI wants to trend much higher. If we get that action today, then look for SXCI to make a run at $70 to $75 in the near future.
Altisource Portfolio Solutions
Altisource Portfolio Solutions (ASPS), together with its subsidiaries, is a provider of services focused on high value, knowledge-based functions principally related to real estate and mortgage portfolio management, asset recovery and customer relationship management. This stock is trading up 2.5% at $64.08 in recent trading.
Today’s Volume: 230,000
Average Volume: 140,746
Volume % Change: 164%
From a technical perspective, ASPS recently broke out above some near-term overhead resistance at $54.36 with monster volume. Since breaking out, the stock has soared towards its current price of just over $64. This huge up move has pushed ASPS into overbought territory since its relative strength index (RSI) is now over 82.
Overbought can always get move overbought, but when a stock gets above an 80 RSI it’s usually smart to lock in profits, or only look for shorter-term long-biased trades.
One big bet on Altisource comes from Leon Cooperman's Omega Advisors, which owned 1.75 million shares as of the most recently reported period.
Pan American Silver
Pan American Silver (PAAS) is engaged in the operation and development of, and exploration for, silver producing properties and assets. This stock is trading up 3.3% at $26.01 in recent trading.
Today’s Volume: 1.9 million
Average Volume: 1.4 million
Volume % Change: 89%
From a technical perspective, PAAS is starting to trigger a breakout trade today now that this stock is moving above some near-term overhead resistance at $25.42 on solid volume.
Market players should watch for PAAS to close over $25.42 and $26.11 with high-volume to signal that it wants trend much higher. If we get that action today or soon, target a run back towards its 200-day moving average of $28.10 or higher in the near future.
To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.