8 Stocks Soaring With Unusual Volume

Synaptics

Synaptics (SYNA) is a developer and supplier of custom-designed human interface solutions that enable people to interact with a range of mobile computing, communications, entertainment and other electronic devices. This stock is trading up 11.7% at $28.42 in recent trading.

Today's Volume: 1.7 million

Average Volume: 517,752

Volume % Change: 474%

Shares of SYNA are ripping to the upside today after the company reported earnings per share of 54 cents, topping Wall Street estimates of 52 cents per share. The company's revenue for the quarter was down 4.0% on a year-over-year basis.

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From a technical perspective, SYNA is gapping up strong here back above its 50-day moving average of $26.91 with heavy volume. This move is coming off some major previous support zones at $24.78 to $24.90, and the stock is breaking out over some near-term resistance at $27.33.

Traders should now look for long-biased trades off the next major breakout for SYNA. That trade will trigger once SYNA takes out some near-term overhead resistance at $29.37 to $29.61, and then its 200-day moving average of $31.69 with high volume. Look for a sustained move or close above those levels with volume that's near or above 517,752 shares.

Keep in mind that you can look to get long SYNA to anticipate that move as long as the stock holds its trend over $27.33.

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