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8 Stocks Soaring on Big Volume

Mattress Firm

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Mattress Firm (MFRM) is a specialty retailer of mattresses and related products and accessories in the United States. This stock is trading up 5% at $37.65 in recent trading.

Today's Volume: 266,000

Average Volume: 219,890

Volume % Change: 112%

Shares of MFRM are soaring higher today after the International Sleep Products Association, a bedding industry trade group, said that its April Bedding Barometer showed increases in both units sold and sales dollars compared to last year.

>>5 Consumer Stocks That Could Pop

From a technical perspective, MFRM is pushing higher here right below its 50-day moving average of $38.56 on above average volume. This stock has also started to challenge some near-term overhead resistance at $37.64. At last check, MFRM has hit an intraday high of $38.99 but has since pulled back near $37.60.

Traders should now look for long-biased trades as long as MFRM is trending above its 50-day of $38.56, and above today's high of $38.99 with strong upside volume flows. I would consider any upside volume day that registers near or above 219,890 shares as bullish. If we get that action, look for MFRM to hit $42 to $44 in the near future.

On the flipside, this stock should be avoided if it fails to maintain a trend above its 50-day.

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