7 Stocks Rising on Unusual Volume
Mitcham Industries
Mitcham Industries (MIND), through its subsidiaries, engages in the leasing, manufacture, and sale of seismic equipment to the oil and gas industry worldwide. This stock is trading up 1.8% at $20.83 in recent trading
Today's Volume: 176,000 shares
Average Volume: 142,592 shares Volume % Change: 79% From a technical standpoint, MIND is trigging a big breakout today now that the stock has started to move above some past overhead resistance of $20.57 on decent volume. Volume today has already eclipsed its three-month average volume of 142,592 shares, which is bullish with the stock breaking out. Market players should now watch for a sustained move and close above $20.5 to signal that this stock wants to trend higher. The only cautionary sign for MIND is that the stock now shows a relative strength index (RSI) reading of 79.37. Any reading above 70 on any stock is considered overbought. This doesn't mean that MIND can't climb higher; it just means that if you start bearish action, then the buyers are most likely exhausted. I featured MIND recently in "5 Stocks Set to Soar off Strong Earnings."Select the service that is right for you!
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