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Echo Global Logistics(ECHO) is a provider of technology enabled transportation and supply chain management services. This stock is trading up 3.1% at $18.30 in recent trading.
Today's Volume: 103,000
Average Volume: 77,139
Volume % Change: 103%.
technical perspective, ECHO is moving modestly higher here on above average volume. This move is quickly pushing ECHO within range of a breakout trade. That trade will hit once ECHO takes out some near-term overhead resistance at $18.50 with high-volume.
At last check, ECHO has hit an intraday high of $18.49 on volume that's well above its three-month average action of 77,139 shares. Traders should now look for long-biased trades once ECHO sustains a move or close above $18.50 with volume that's near or above 77,129 shares. If we get that action today or soon, then look for ECHO to re-test its 52-week high of $19.38 very soon.
Echo was included on a list of
Barrington's Best Stock Picks for 2012.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.