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SPX(SPW - Get Report) is a global multi-industry manufacturing company that offers highly specialized engineered solutions to solve critical problems for customers. This stock is trading up 2.3% at $68.41 in recent trading.
Today's Volume: 420,000
Average Volume: 574,597
Volume % Change: 50%
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From a technical perspective, SPW is trending modestly higher here with decent volume. This move is quickly pushing SPW within range of its 200-day at $68.84, and within range of a near-term breakout trade. That trade will hit once SPW manages to take out its 200-day and some near-term overhead resistance levels at $69.65 to $71.17 with high volume.
Traders should now look for long-biased trades in SPW as long as its trending above its 200-day, and then once it sustains a move or close above those breakout levels with volume that hits near or above 574,597 shares. If that breakout triggers soon, then look for SPW to re-test or possibly take out its next major overhead resistance levels at $76.32 to $78.82.
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.