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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

8 Stocks Rising on Unusual Volume

Stocks in this article: ALJ NTE GRMN ETE DNKN ERJ XNPT WYNN

Wynn Resorts

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Wynn Resorts (WYNN) is a developer, owner and operator of destination casino resorts. This stock is trading up 1% at $114.52 in recent trading.

Today's Volume: 1.6 million

Average Volume: 1.8 million

Volume % Change: 97%

From a technical perspective, WYNN is bouncing modestly higher here right off some near-term support at $114 with decent volume. Shares of WYNN have basically been trending sideways for the last month, between $110 on the downside and $117.82 on the upside. This move today is pushing WYNN within range of breaking out above some near-term overhead resistance at $117.82.

Traders should now look for long-biased trades in WYNN as long as it's trending above its 200-day at $110.65, and then once it sustains a move or close above $117.82 with volume that hits near or above 1,819,620 shares. If that breakout triggers soon, then WYNN could setup for an explosive move higher back toward its next major resistance level at $136.88.

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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