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8 Stocks Soaring on Big Volume

Stocks in this article: ALJBCORELLIPATKAIGSNEDIODCNMD

Diodes

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Diodes (DIOD) is a global manufacturer and supplier of application-specific standard products within the discrete, logic and analog semiconductor markets, serving the consumer electronics, computing, communications, industrial and automotive markets. This stock is trading up 2.6% at $19.67 in recent trading.

Today's Volume: 425,000

Average Volume: 266,243

Volume % Change: 239%

From a technical perspective, DIOD is bouncing modestly here right off some near-term support at $19 with above-average volume. This move is quickly pushing DIOD within range of triggering a near-term breakout trade. That trade will hit once DIOD takes out some near-term overhead resistance levels at $19.82 to $20 with high volume.

Traders should now look for long-biased trades once DIOD sustains a move or close above those levels with volume that's near or above 266,243 shares. If that breakout triggers soon, then DIOD will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $20.75 to its 200-day moving average of $21.14. Any high-volume move above $21.14 will setup DIOD to re-test more resistance at $23.

Keep in mind that traders can look to go long DIOD as long as it's trending above its 50-day at $18.49 to simply anticipate that breakout.

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