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TheStreet Open House

8 Stocks Climbing Higher on Unusual Volume

Traders should now look for long-biased trades in THOR as long as it's trending above its 50-day moving average of $34.98, and then once it sustains a move or close above $38.12 with volume that hits near or above 440,005 shares. If that breakout triggers soon, then THOR will set up to re-test or possibly take out its next major overhead resistance levels at $40.65 to $46.

Cedar Fair (FUN)

This company is a regional amusement park operator, which owns eleven amusement parks, six outdoor water parks, one indoor water park and five hotels. This stock is trading up 2.5% at $35.54 in recent trading.

Today's Volume: 500,000

Average Volume: 232,406

Volume % Change: 164%

From a technical perspective, FUN is bouncing modestly higher here back above its 50-day moving average of $34.56 with above-average volume. This stock has been uptrending strongly for the last six months, with shares moving from $24.69 to $37.69. During that uptrend, shares of FUN have been mostly making higher lows and higher highs, which is bullish technical price action. That action has now pushed FUN within range of triggering a near-term breakout trade. That trade will hit once FUN takes out some near-term overhead resistance at $37.69 with high volume.

Traders should now look for long-biased trades in FUN as long as it's trending above its 50-day at $34.56, and then once it sustains a move or close above $37.69 with volume that hits near or above 232,406 shares. If that breakout triggers soon, then FUN will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets are $40 to $45 in the near future off that breakout.

Fusion-IO (FIO)

This company provides a combination of hardware and software that places data closer to processing. This stock is trading up 5.3% at $24.24 in recent trading.

Today's Volume: 3.33 million

Average Volume: 2.54 million

Volume % Change: 87%

Shares of FIO are trending higher today after rumors made the rounds that IBM is close to making a $3.4 billion offer for the company. There is also some talk today that SAP is interested in making a competing/higher offer for FIO.

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