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8 Stocks Soaring on Big Volume

AFC Enterprises

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AFC Enterprises (AFCE) develops, operates, and franchises quick-service restaurants under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen. Within Popeyes, it manages two business segments: franchise operations and company-operated restaurants. This stock is trading up 4.8% at $21.85 in recent trading.

Today's Volume: 62,000

Average Volume: 77,054

Volume % Change: 56%.

From a technical perspective, AFCE is following through to the upside today after triggering a major breakout yesterday above $17.77 with monster volume. This move has now pushed AFCE into overbought territory since its current relative strength index (RSI) reading is 85.99.

Traders are probably best served letting this stock consolidate some of those recent gains before looking for long-biased trades. That said, as long as AFCE is trending above Thursday's low of $19 with strong upside volume, then it has a great chance of eventually hitting $25 to $26. I would consider any upside volume day that registers near or above 77,054 shares a bullish.

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