3 Unusual-Volume Stocks Moving Higher
Impac Mortgage
Impac Mortgage (IMH) focuses on mortgage and real estate services including primarily mortgage lending activities and portfolio loss mitigation and real estate service activities, and the management of the long-term mortgage portfolio. This stock is trading up 21% at $12.25 in recent trading.
Today's Volume: 452,000
Average Volume: 163,627 Volume % Change: 577% >>6 Best-Rated Bank Stocks From a technical perspective, IMH is gapping sharply higher here right off some near-term support at $10 with above-average volume. This move has started to push IMH into breakout and 52-week-high territory, since the stock has moved above some near-term overhead resistance levels at $11.57 to $11.94. Traders should now look for long-biased trades in IMH as long as it's trending above those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 163,627 shares as bullish. If IMH can maintain that trend, then this stock has a great chance of trending up towards $15 or higher in the near future. 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.Follow Stockpickr on Twitter and become a fan on Facebook.
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