(GME - Get Report)
is a multichannel video game retailer. It sells new and used video game hardware, physical and digital video game software, accessories, as well as personal computer entertainment software and other merchandise. This stock is trading up 4.9% at $20.20 in recent trading.
Today's Volume: 3.8 million
Average Volume: 3.4 million
Volume % Change: 88%
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From a technical perspective, GME is gapping up sharply higher here with above average volume. This move pushed GME through some near-term overhead resistance levels at $19.33 to $19.52.
Traders should now look for long-biased trades in GME once it clears its 200-day moving average of $20.71 with high volume. Look for a sustained move or close above that level with volume that's near or above 3,355,140 shares. If we get that move soon, then GME has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $22.60 to $24.
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.
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At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.