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6 High-Volume Stocks With Relative Strength


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SanDisk (SNDK - Get Report) develops and manufactures data storage solutions in a range of form factors using its flash memory, controller and firmware technologies. This stock is trading up 14% at $40.01 in recent trading.

Today's Volume: 15.3 million

Average Volume: 6.1 million

Volume % Change: 390%

Shares of SNDK are soaring after the company reported non-GAAP earnings of $51 million, or 21 cents per share, on $1.03 billion of revenue for the second quarter, versus Wall Street estimates of 18 cents per share and $1.02 billion in revenue.

>>10 Top-Rated Tech Stocks That Pay Big Dividends

From a technical perspective, SNDK is gapping up huge here with monster volume, and this move has pushed the stock into near-term breakout territory since it's cleared some overhead resistance at $37.39 to $37.64.

Traders should now look to play the next major breakout for SNDK. That trade will trigger once SNDK takes out today's high of $40.45 and then some more overhead resistance at $42 with high volume. Traders should look for long-biased trades once SNDK sustains a move or close above those levels with volume that's near or above 6.1 million shares. If we get that action soon, then SNDK will have a great chance of re-testing or possibly taking out its 200-day moving average or $44.19. Any move over its 200-day will bring a previous gap-down from over $50 into play.

As of the most recently reported period, SNDK was one of David Tepper's Appaloosa Management portfolio.
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ALGN $58.78 -0.02%
CBST $101.94 0.14%
SNDK $67.49 0.30%
SLM $5.70 -0.61%
AAPL $93.99 0.31%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

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