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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

7 Stocks Surging Higher on Big Volume

Stocks in this article: AEGN GRMN CPTS ORIG GUID CTRX CYOU

Catamaran

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Catamaran (CTRX) is a provider of pharmacy benefit management services and health care information technology solutions to the healthcare benefit management industry. This stock is trading up 3% at $87.60 in recent trading.

Today's Volume: 1.4 million

Average Volume: 1.1 million

Volume % Change: 50%

Shares CTRX are moving notably higher today after the company's second quarter earnings jumped 27%, as acquisitions and new customers helped their revenue grow. But the company lowered its 2012 earnings forecast.

From a technical perspective, CTRX is bouncing higher here right off some near-term support at $85 with high volume. At last check, CTRX has hit an intraday high of $92 but it has since then pulled back to its current price of $87.60.

Traders should now look to play the next major breakout for CTRX once this stock takes out its 50-day moving average of $92.02 with high volume. Traders should now look for long-biased trades as long as CTRX is trending above today's low of $84.93, and then once it clears $92.02 with high volume. Look for a sustained move or close above $92.02 with volume that's near or above 1,128,410 shares. If we get that action soon, then CTRX will have a great chance of re-testing and taking out its next major overhead resistance levels at $95 to $104.79.

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