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TheStreet Open House

7 Stocks Ripping Higher With Big Volume

Stock quotes in this article: NWSA, AFCE, ROSG, ROLL, STX, UMBF, STRA

Seagate Technology

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Seagate Technology (STX) designs, manufactures, markets and sells hard disk drives. This stock is trading up 4.6% at $24.34 in recent trading.

Today's Volume: 13.1 million

Average Volume: 12.6 million

Volume % Change: 63%

From a technical perspective, STX is gapping up sharply here with above-average volume. This move is coming off some previous support levels at around $22.50, and it's quickly pushing the stock within range of triggering a near-term breakout trade. That trade will hit once STX takes out some near-term overhead resistance at $24.68 with high volume.

>>5 Bargain Stocks With Tons of Cash

Traders should now look for long-biased trades once STX sustains a move or close above $24.68 with volume that's near or above 12.6 million shares. If we get that action today or soon, then traders should add to any long positions once STX clears its 50-day at $26.99, and some more resistance at $27.10 with strong volume.

As of the most recently reported period, Seagate was one of Edward Lampert's holdings and also showed up in David Einhorn's Greenlight Capital portfolio.

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