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TheStreet Open House

4 Big-Volume Stocks Moving Higher

Stocks in this article: AFGCOLMOMCLCLD

American Financial Group

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American Financial Group (AFG) is a holding company that, through its subsidiaries, is engaged mainly in property and casualty insurance. This stock is trading up 1.1% at $38.91 in recent trading.

Today's Volume: 937,000

Average Volume: 495,783

Volume % Change: 192%

>>5 Toxic Stocks to Sell Now

From a technical perspective, AFG is moving modestly higher here with above-average volume. This move is quickly pushing AFG within range of triggering a near-term breakout trade. That trade will hit once AFG manages to take out some near-term overhead resistance at $39.48 with high volume.

Traders should now look for long-biased trades in AFG as long as it's trending above some near-term support at $38.26, and then once it sustains a move or close above $39.48 with volume that hits near or above 495,783 shares. If that breakout triggers soon, then AFG will set up to re-test or possibly take out its next major overhead resistance level at $40.54. Keep in mind that any move above $40.54 will push AFG into new 52-week high territory, which would be bullish technical price action.

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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