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8 Stocks Ripping Higher on Big Volume

Clean Harbors

Clean Harbors (CLH - Get Report) is a provider of environmental, energy and industrial services throughout North America. This stock is trading up 3.1% at $49.81 in recent trading.

Today's Volume: 399,000

Average Volume: 537,695

Volume % Change: 55%

From a technical perspective, CLH is bouncing higher here off oversold levels with decent volume. During the last two months, this stock plunged from $61.99 to today's low of $48.03 a share with a number of high-volume down days. That recent move has now pushed CLH into oversold territory, since its current RSI is now 33.

Traders should now look for long-biased traders in CLH if it can manage to break out above some near-term overhead resistance at $51 with high volume. Look for a sustained move or close above $51 with volume that's near or above 537,695 shares. If that breakout triggers soon, then CLH could fill a previous gap back toward $53, or possibly even tag its 50-day moving average of $55.90.

On the flip side, I would avoid CLH or look for short-biased trades if it fails to trigger that move, and then drops back below today's low of $48.03 with high volume.

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CNI $66.93 0.09%
CLH $57.51 1.30%
MM $1.46 0.34%
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