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TheStreet Open House

4 Stocks Rising on Unusual Volume

Stocks in this article: PANLPETMQCORKMX

CarMax

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CarMax (KMX), through its subsidiaries, operates as a retailer of used vehicles in the U.S. This stock is trading up 9% at $31.86 in recent trading.

Today's Volume: 6.04 million

Average Volume: 1.81 million

Volume % Change: 486%

Shares of KMX are soaring today after ITG Research said its retail revenue growth is tracking up 16.7% year-over-year vs. 13.3% and that same-store used unit retail sales are likely ahead of Street estimates.

>>5 Rocket Stocks to Buy in October

From a technical perspective, KMX bounced right off its 50-day and 200-day moving averages with monster volume. This move is quickly pushing KMX within range of triggering a near-term breakout trade. That trade will hit once KMX manages to clear some near-term overhead resistance at $33.38 with high volume.

Traders should now look for long-biased trades once KMX sustains a move or close above $33.38 with volume that hits near or above 1.81 million shares. If we get that action soon, then look for KMX to re-test and possibly take out its next major overhead resistance levels at $35.17 to $37.02.

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