Traders should now look for long-biased trades in NTES as long as it's trending above today's low of $39.40, and then once it sustains a move or close above $44 with volume that hits near or above 970,056 shares. If that breakout triggers soon, then NTES will set up to re-test or possibly take out its next major overhead resistance levels at its 50-day of $47.89 to $50.
Vipshop Holdings (VIPS)
This company offers high-quality branded products to consumers in China through flash sales on its vipshop.com website. This stock is trading up 8% at $15.73 in recent trading.
Today's Volume: 248,000Average Volume: 113,413 Volume % Change: 345% From a technical perspective, VIPS is soaring here right off some near-term support at $14.25 with above-average volume. This move has started to push VIPS into breakout territory, since the stock is trading well above some near-term overhead resistance levels at $14.25 to $15. This stock has been uptrending strongly for the last four months, with shares soaring from a low of $4.76 to its recent high of $15.75. During that move, shares of VIPS have been consistently making higher lows and higher highs, which is bullish technical price action. Traders should now look for long-biased trades in VIPS as long as it's trending above those breakout levels of $14.25 to $15 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 113,413 shares as bullish. If VIPS can maintain that trend, then this stock has a great chance of tagging $20 in the near future. 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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