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8 Stocks Soaring With Strong Volume

Delek US Holdings

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Delek US Holdings (DK) is an integrated energy business focused on petroleum refining, the wholesale distribution of refined products and convenience store retailing. This stock is trading up 4.5% at $24.04 in recent trading.

Today's Volume: 1.2 million

Average Volume: 348,486

Volume % Change: 405%

From a technical perspective, DK is bouncing sharply here right off some near-term support at $23 with heavy volume. This move is following a recent selloff in DK from overbought conditions that took the stock from $26.40 to just under $23.

Traders should now look for short-term long-biased trades in DK if this stock can manage to take out some near-term overhead resistance at $24.50 with high volume. Look for a sustained move or close above $24.50 with volume that's near or above 348,486 shares. If that breakout triggers soon, then look for DK to re-test or possibly take out that recent high of $26.40.

On the flipside, I would avoid this stock or look for short-term short-biased trades if it fails to trigger that breakout, and then moves back below some near-term support at $22.76 with high volume.

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