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8 Stocks Rising on Unusual 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 several stocks rising on unusual volume today.
Travelzoo (TZOO) is a global Internet media company. Travelzoo informs over 22 million subscribers worldwide, as well as millions of Website users, about the best travel, entertainment and local deals available from thousands of companies. The stock is trading up 2% at $30.40 in recent trading.
Today’s Volume: 763,000
Average Volume: 636,473
Volume % Change: 105%
From a technical standpoint, TZOO has flirted a few times intraday today with a big breakout above some near-term overhead resistance at $29.88 and $30.60. Market players should look for a sustained high-volume move and close above those levels to signal that this stock wants to trend much higher.
At last check, volume today is already well above its average, so watch how the stock closes. If we get a strong close near the daily highs, then I would look for TZOO to re-test $35 to $36 or potentially trend even higher in the near future.
Travelzoo is rated C hold by TheStreet Ratings.
Leap Wireless International
Leap Wireless International (LEAP) is a wireless communications carrier that offers digital wireless services in the U.S. under the Cricket brand. The stock is trading up 9.8% at $10.18 in recent trading.
Today’s Volume: 1.99 million
Average Volume: 2.1 million
Volume % Change: 76%
From a technical standpoint, LEAP has started to flirt with a big breakout today above $10.04 and $10.35 on decent volume. Market players should now watch for a sustained high-volume move and close above those levels to signal that this stock wants to re-test its 200-day moving average of $11.32.
Look for volume that’s above 2.08 million to signal that the 200-day is next to get hit for LEAP. Any high-volume move above the 200-day should then be considered very bullish price action.
Leap is rated D sell by TheStreet Ratings.
Tractor Supply (TSCO) is an operator of retail farm and ranch stores in the U.S. The stock is trading up 9.2% at $79.68 in recent trading.
Today’s Volume: 2.35 million
Average Volume: 726,276
Volume % Change: 442%
From a technical standpoint, TSCO is gapping up and breaking out above some major overhead resistance at $78.22 today on monster volume. Traders should continue to look for long-biased trades in the near future if TSCO can close above $78.22 and near its daily highs today.
Keep in mind that TSCO is now trading at all-time highs, which is very bullish. Often when a stock hits $80, it will continue its uptrend towards $100.
Tractor Supply is one of TheStreet Ratings' top-rated specialty retail stocks, with a B+ buy rating.
Seagate Technology (STX) designs, manufactures, markets and sells hard disk drives. This stock is trading up 2.8% at $19.22 in recent trading.
Today’s Volume: 15.4 million
Average Volume: 10.9 million
Volume % Change: 140%
From a technical standpoint, STX has started to trigger a major breakout trade today now that this stock has moved above some major overhead resistance at $18.60 on monster volume. Traders should continue to look for long-biased trades in STX as long as the stock closes above $18.60 and near its daily highs.
Seagate, which is rated C hold by TheStreet Ratings, is one of the top-yielding computer hardware stocks and shows up on a list of 10 Dividend Stocks to Keep You Safe Into 2012.
Vivus (VVUS) is engaged in development and commercialization of therapeutic drugs for large underserved markets, including obesity and related morbidities, such as sleep apnea and diabetes and men's sexual health. This stock is trading up 4.1% at $12.55 in recent trading.
Today’s Volume: 3.3 million
Average Volume: 1.6 million
Volume % Change: 176%
From a technical standpoint, VVUS is flirting with a number of a big breakout trades if this stock can manage to take out some past overhead resistance at $12.98 and then $13.68 with volume. At last check, VVUS hit $12.84 intraday and volume is well above the average action.
Traders should be cautious on VVUS if it fails to take out those breakout levels soon, since the volume is so strong today and it’s still trading below them.
Vivus is rated D sell by TheStreet Ratings.
Qlik Technologies (QLIK), through its wholly owned subsidiaries, sells software solutions that deliver data analysis and reporting solutions. This stock is trading up 6.4% at $25.28 in recent trading.
Today’s Volume: 807,000
Average Volume: 1.1 million
Volume % Change: 52%
From a technical standpoint, QLIK is gapping up strong today on decent volume and is flirting with some near-term overhead resistance at $25.38.
Traders should now look for a sustained high-volume move and close above $25.38 to signal that this stock wants to continue its uptrend back towards its 50-day moving average of $27.13. Look for volume at the close that’s near or above 1.1 million shares.
Qlik Technologies is rated D+ sell by TheStreet Ratings.
Sanderson Farms (SAFM) is a poultry processing company engaged in the production, processing, marketing and distribution of fresh and frozen chicken products. This stock is trading up 7.2% at $50.84 in recent trading.
Today’s Volume: 617,000
Average Volume: 306,400
Volume % Change: 171%
From a technical standpoint, SAFM is ripping higher today on big volume back above its 50-day moving average of $50.03.
Market players should now look for a sustained move and close above some near-term overhead resistance at $51.03 and near its daily highs. If we get that action today, then look for SAFM to challenge its 52-week high of $53.22 in the very near future.
Sanderson Farms is rated C+ hold by TheStreet Ratings.
Clean Energy Fuels
Clean Energy Fuels (CLNE), together with its wholly owned subsidiaries, is engaged in the business of selling natural gas fueling solutions to its customers, primarily in the U.S. and Canada. This stock is trading up 5.8% at $13.83 in recent trading.
Today’s Volume: 1.85 million
Average Volume: 874,976
Volume % Change: 189%
From a technical standpoint, CLNE is getting very close to triggering a major breakout today above some overhead resistance levels at $13.65 and $13.99 on monster volume. At last check, CLNE hit a high of $14.10 which is just 37 cents below its next big overhead resistance level at $14.47.
Market players should be watching this stock like a hawk for a sustained high-volume move and close over $14.47. If we get that action soon, then this stock has the potential for a big spike higher towards $16 to $18 in the near future.
Clean Energy Fuels is rated D+ sell by TheStreet Ratings.
-- 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.