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7 Stocks Moving Higher on Unusual Volume

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ABIOMED (ABMD)

This company is a provider of medical devices in circulatory support and offers a continuum of care in heart recovery to acute heart failure patients. This stock is trading up 3.1% at $19.51 in recent trading.

Today's Volume: 596,000

Average Volume: 525,266

Volume % Change: 50%.

From a technical perspective, ABMD is bouncing here near some previous support at $18.74 and near its 200-day moving average of $18.35 with above average volume. This move is also coming off of oversold conditions, since its current relative strength index reading is 33.34. Traders should now look for long-biased trades if AMBD can manage to trigger a breakout trade. That trade will hit once ABMC takes out some near-term overhead resistance at $21 with high volume.

Look for a sustained move or close above $21 with volume that's near or above 525,266 shares. If we get that action soon, then ABMD has a good chance of re-testing and potentially taking out its 50-day moving average of $22.29. On the flipside, I would avoid this stock or look for short-biased trades if it moves back below $18.74 and then its 200-day at $18.35 with high volume.

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