3 Stocks Spiking Higher on Big Volume

Ryanair

Ryanair (RYAAY) operates a low-cost, scheduled-passenger airline serving short-haul, point-to-point routes between Ireland, the United Kingdom, Continental Europe and Morocco. This stock is trading up 1.7% at $33.44 in recent trading.

Today's Volume: 323,000

Average Volume: 242,298

Volume % Change: 123%

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From a technical perspective, RYAAY is ripping higher here with above-average volume, and it's now pushing into breakout territory with the stock moving above some near-term overhead resistance at $33.11.

Traders should now look for long-biased trades in RYAAY as long as it's trending above its 200-day at $31.90, and then once it sustains a move or close above $33.11 with volume that's near or above 242,298 shares. If RYAAY can sustains that trend, then this stock will have an excellent chance of re-testing or possibly taking out its next major overhead resistance levels at $35.78 to $37.12.

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.

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