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4 Stocks Rising on Unusual Volume

Clovis Oncology

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Clovis Oncology (CLVS) is a biopharmaceutical company focused on acquiring, developing and commercializing anti-cancer agents in the U.S., Europe and additional international markets. This stock is trading up 2.6% at $21.15 in recent trading.

Today's Volume: 52,000

Average Volume: 74,313

Volume % Change: 50%

>>22 Biopharma Stocks With Breakout Potential in 2012

From a technical perspective, CLVS is bouncing modestly here right off its 50-day moving average of $18.32 with decent volume. This move is quickly pushing CLVS within range of a near-term breakout trade. That trade will hit once CLVS takes out some near-term overhead resistance at $21.40 with high volume.

Traders should now look for long-biased trades in CLVS as long as its trending above its 50-day, and then once it sustains a move or close above $21.40 with volume that's near or above 74,313 shares. If that breakout triggers soon, then CLVS will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $23.42.

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