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.
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