Volume % Change: 198
From a technical perspective, CNC is soaring sharply higher here back above its 200-day moving average of $39.77 with monster upside volume. This move has also pushed CNC into breakout territory, since the stock has pushed above some past overhead resistance at $42.46 to $43.
Traders should now look for long-biased trades in CNC as long as it's trending above $42.46 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 731,383 shares as bullish. If CNC can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $46.89 to $50.98.
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.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV