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TheStreet Open House

8 Stocks Rising on Monster Volume

Stocks in this article: TRAKEXLSCPRTGEVAVRSKGEVONUSCOST

DealerTrack

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DealerTrack (TRAK) provides software solutions to automotive retail industry, including dealers, lenders, original equipment manufacturers (OEMs) and agents. The stock is trading up 2% at $28.63 in recent trading.

Today's Volume: 2.2 million

Average Volume: 337,584

Volume % Change: 767%

Shares of TRAK are moving modestly higher on strong volume after the company announced the pricing of a private offering of $175 million of 1.5% senior convertible notes due 2017.

From a technical perspective, TRAK is starting to move above its 50-day moving average of $28.27 today on strong volume. Market players should now watch for a big breakout trade to trigger once TRAK takes out $29.35 with volume. A high-volume move above that level will put a recent gap down into play from over $31.

Traders should look for long-biased trades in TRAK if it takes out $29.35 with volume that's near or above 337,584 shares.

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