7 Stocks Rising on Huge Volume
Mentor Graphics (MENT) is a supplier of electronic design automation systems-advanced computer software and emulation hardware systems used to automate the design, analysis, and testing of electronic hardware and embedded systems software in electronic systems and components. The stock is trading up 7% at $12.28 in recent trading.
Today's Volume: 1,690,000Average Volume: 1,146,380 Volume % Change: 283% This stock is exploding to the upside today after the company beat its third quarter forecast, and said they will remain on track for $1 billion in sales. Mentor posted earnings of $24.1 million, or 22 cents per share, versus earnings of $15.2 million, or 14 cents per share a year ago. From a technical standpoint, this stock has started to break out above some past overhead resistance at $12 to $12.08 on high-volume. Market players should now look to buy the next big breakout that will trigger once this stock moves above its 200-day moving average of $12.54 and then above some more overhead resistance at $13.08. A sustained high-volume move and close above those levels sets this stock up to trade back towards $14 to $16.50 a share. I also featured Mentor in "5 Earnings Stocks Poised to Pop."
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