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Portfolio Recovery Associates(PRAA) is engaged in the detection, collection and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, governments, retailers and others. This stock is trading up 4% at $75.87 in recent trading.
Today's Volume: 121,000
Average Volume: 108,277
Volume % Change: 107%.
technical perspective, PRAA is moving sharply higher here with above average volume. This move has now pushed PRAA into major
breakout territory since the stock has taken out some near-term overhead resistance at $74 to $74.97.
Traders should continue to look for long-biased trades as long as PRAA is trending above $74 to $74.97 with strong upside volume flows. I would consider any upside volume day that registers near or above 108,277 shares as bullish. If we continue to see that action, then PRAA should easily re-test its next significant overhead resistance levels at $82.50 to $85.
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.