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8 Stocks Ripping Higher on Unusual Volume

Papa John's International (PZZA)

This company operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and restaurant-based delivery restaurants. This stock is trading up 2% at $52.43 in recent trading.

Today's Volume: 143,000

Average Volume: 114,258

Volume % Change: 89%

From a technical perspective, PZZA is moving modestly higher here back above its 50-day moving average of $51.66 with above-average volume. This move is quickly pushing PZZA within range of triggering a near-term breakout trade. That trade will hit once PZZA manages to take out some near-term overhead resistance levels at $54 to $54.67 with high volume.

Traders should now look for long-biased trades in PZZA as long as it's trending above its 50-day at $51.66, and then once it sustains a move or close above those breakout levels with volume that hits near or above 114,258 shares. If that breakout triggers soon, then PZZA will set up to re-test or possibly take out its next major overhead resistance level at $56.41. Any move above $56.41 would then push PZZA into new 52-week high territory, which is bullish technical price action. Some possible upside targets off that move are $60 to $65.

Movado Group (MOV)

This company designs, sources, markets and distributes fine watches. This stock is trading up 8.5% at $34.97 in recent trading.

Today's Volume: 334,000

Average Volume: 216,313

Volume % Change: 173%

Shares of MOV are soaring higher today after the company said its third quarter income jumped sharply. The firm also raised its fiscal year guidance.

From a technical perspective, MOV is gapping up sharply here back above its 50-day moving average of $32.57 with above-average volume. This move has also pushed MOV into breakout territory, since the stock has challenged some near-term overhead resistance levels at $33.70 to $34.90. At last check, MOV has hit an intraday high of $35.50 and volume is well above its three-month average action of 216.313 shares. Shares of MOV hare now moving within range of triggering another major breakout trade. That trade will hit once the stock manages to clear some past overhead resistance levels at $36.86 to $37.31 with high volume.
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