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Finisar(FNSR - Get Report) is a provider of optical subsystems and components that is used in data communication and telecommunication applications. This stock is trading up 3.6% at $15.46 in recent trading.
Today's Volume: 2.5 million
Average Volume: 2.6 million
Volume % Change: 50%
From a technical perspective, FNSR is spiking strongly to the upside today with decent volume. This move has started to push FNSR into breakout territory, since the stock is moving above some near-term overhead resistance levels at $15.10 to $15.32.
FinisarTraders should now look for long-biased trades as long as FNSR is trending above today's low of $14.92 with strong upside volume flows. I would consider any upside volume day that registers near or above 2,585,830 shares as bullish. If $14.92 holds, and if FNSR can hold a decent rend above those breakout levels, then this stock will have a great chance of re-testing and possibly taking out its 200-day moving average of $16.96 in the near future.
To see more stocks rising on unusual volume, check out the
Stocks Rising On Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.