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8 Stocks Ripping Higher on Big Volume

Millennial Media

Millennial Media (MM - Get Report) is a mobile advertising platform company. Millennial Media technology, tools and services help developers maximize their advertising revenue. This stock is trading up 5% at $15.78 in recent trading.

Today's Volume: 792,000

Average Volume: 519,062

Volume % Change: 229%

>>8 Tech Stocks Leading the Market

From a technical perspective, MM is bouncing solidly here right around some near-term support at $14 with above-average volume. This move is quickly pushing MM within range of triggering a major breakout trade. That trade will hit once MM manages to take out some key overhead resistance levels at $15.79 to $16.08 with high volume. At last check, MM has hit an intraday high of $16.49 and volume is well above its three-month average action of 519,062 shares.

Traders should now look for long-biased trades in MM as long as it's trending above $15.79 to $16.08 with volume that's near or above 519,062 shares. If MM can sustain that trend, then this stock has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $18 to $20.

On the flip side, I would avoid MM or look for short-biased trades if it fails to hold that trend, and then drops below some near-term support at $13.80 with high volume.

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SYM TRADE IT LAST %CHG
CNI $66.18 -0.42%
CLH $55.94 0.02%
MM $1.53 0.66%
RKT $61.25 0.72%
TIVO $11.30 0.76%

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