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8 Stocks Climbing Higher on Unusual Volume

Stocks in this article: SRPT VVUS BANR EFII THOR

From a technical perspective, FIO is bouncing modestly higher here right below its 200-day moving average of $25.08 with heavy volume. This move is coming after FIO has been downtrending badly for the last two months, with shares falling from a high of $32.63 to a recent low of $21.14. During that downtrend, shares of FIO have been consistently making lower highs and lower lows, which is bearish technical price action. That said, FIO has now started to bounce off that recent low and move within range of triggering a near-term breakout trade. That trade will hit once FIO manages to take out some near-term overhead resistance levels at $25.08 to $25.28 with high volume.

Traders should now look for long-biased trades in FIO once it manages to sustain a move or close above those breakout levels with volume that hits near or above 2.54 million shares. If that breakout triggers soon, then FIO will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day at $27.35 or just under $29.

Infinity Pharmaceuticals (INFI)

This company discovers, develops, and delivers medicines for the treatment of cancer and related conditions. This stock is trading up 10.7% at $25.96 in recent trading.

Today's Volume: 703,000

Average Volume: 400,787

Volume % Change: 135%

Shares of INFI are soaring higher today after RBC Capital initiated the stock with an outperform rating.

From a technical perspective, INFI is ripping higher here just above its 50-day moving average of $22.85 with above-average volume. This move is quickly pushing INFI within range of triggering a major breakout trade. That trade will hit once INFI manages to take out some near-term overhead resistance at $27.28 with high volume.

Traders should now look for long-biased trades in INFI as long as it's trending above its 50-day at $22.85, and then once it sustains a move or close above $27.28 with volume that hits near or above 400,787 shares. If that breakout triggers soon, then INFI will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets are $30 to $35 if that breakout triggers soon with volume.

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