8 Stocks Soaring on Big Volume

Select Comfort

Select Comfort (SCSS) is a bed manufacturer and retailer. Select Comfort designs, manufactures, markets and distributes the SLEEP NUMBER bed and other sleep-related products. This stock is trading up 4.8% at $27.82 in recent trading.

Today's Volume: 1.3 million Average Volume: 1.45 million

Volume % Change: 51%

Shares of SCSS are ripping 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.

From a technical perspective, SCSS is following through here off of a recent double bottom that was hit at $24.27 to $24.33. This move is quickly pushing the stock within range of a near-term breakout trade. That trade will hit once SCSS takes out some near-term overhead resistance at $28.84, and then its 50-day moving average of $30.55 with high-volume.

Traders should now look for long-biased trades once SCSS sustains a move or close above those levels with volume that's near or above 1,445,560 shares. If we get that action soon, look for SCSS to hit $31 to $32.50, or possibly above $34.

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