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TheStreet Open House

6 Stocks Rising on Unusual Volume

Stocks in this article: ZUMZEDMCLULUULTAJVAGIII

Ulta Salon Cosmetics & Fragrance

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Ulta Salon Cosmetics & Fragrance (ULTA) operates specialty retail stores selling cosmetics, fragrance, haircare and skincare products, and related accessories and services. This stock is trading up 4.6% at $73.08 in recent trading.

Today's Volume: 1,300,000

Average Volume: 1,051,380

Volume % Change: 204%

This stock, another of my earnings short-squeeze plays this week, is spiking big today after the company posted a better-than-expected quarterly profit as more beauty-conscious customers bought their products. Third-quarter net income soared to $26.8 million, or 42 cents a share, vs. $14.2 million, or 23 cents a share, a year ago. Revenue rose 22% to $413.1 million and same-store sales also jumped 10%.

From a technical standpoint, this stock has started to flirt with some big breakout levels today off of its strong earnings report. Traders should now watch for a sustained high-volume move and close above $74.38 to $75.69 in the coming days or weeks. If we get that breakout on volume that's close to or above 1,051,380, then I would look to get long this stock for a run towards $100.

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