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6 Stocks Rising on Unusual Volume

Blackstone Group (BX)

This company is a global alternative asset manager and a provider of financial advisory services. This stock is trading up 5.6% at $14.40 in recent trading.

Today's Volume: 5.52 million

Average Volume: 3 million

Volume % Change: 130%

From a technical perspective, BX is bouncing strongly higher here right off its 200-day moving average of $13.85 with above-average volume. This move is coming after BX recently dropped from its high of $15.73 to its recent low of $13.31 with heavy downside volume. The action today is now pushing BX within range of triggering a near-term breakout trade. That trade will hit once BX manages to take out its 50-day moving average of $14.63 with high volume.

Traders should now look for long-biased trades in BX as long as it's trending above its 200-day at $13.85, and then once it sustains a move or close above its 50-day at $14.63 with volume that hits near or above 3 million shares. If that breakout triggers soon, then BX will set up to re-test or possibly take out its next major overhead resistance levels at $15.50 to $15.74.

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.
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