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TheStreet Open House

8 Stocks Roaring Higher on Unusual Volume

Synergy Pharmaceuticals (SGYP)

This is a development stage biopharmaceutical company, whose main focus is on the development of drugs to treat GI disorders and diseases. This stock is trading up 5.7% to $5.12 in recent trading.

Today's Range: $4.86-$5.20

52-Week Range: $2.98-$7.08

Volume: 380,000

Three-Month Average Volume: 380,789

From a technical perspective, SGYP is bouncing higher here right above some near-term support at $4.75 with solid volume. This move is quickly pushing SGYP within range of triggering a near-term breakout trade. That trade will hit if SGYP manages to clear some near-term overhead resistance levels at $5.42 to $5.89 with high volume.

Traders should now look for long-biased trades in SGYP as long as it's trending above its 200-day at $4.51, and then once it sustains a move or close above those breakout levels with volume that hits near or above 380,789 shares. If that breakout triggers soon, then SGYP will set up to re-test or possibly take out its next major overhead resistance levels at $7.08 to $7.34.

Harmony Gold Mining (HMY)

This company is engaged in underground and surface gold mining and related activities, including exploration, extraction and processing. This stock is trading up 3.8% to $8.72 in recent trading.

Today's Range: $8.40-$8.72

52-Week Range: $7.46-$13.40

Volume: 1.51 million

Three-Month Average Volume: 2.38 million

From a technical perspective, HMY is trending higher here right above some near-term support at $8.25 with decent volume. This stock has been uptrending modestly for the last month, with shares moving higher from a low of $7.46 to its intraday high of $8.72. During that move, shares of HMY have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed HMY within range of triggering a near-term breakout trade. That trade will hit if HMY manages to take out some near-term overhead resistance levels at $8.80 to its 200-day at $9.17 with high volume.

Traders should now look for long-biased trades in HMY as long as it's trending above its 50-day at $8.09, and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.38 million shares. If that breakout triggers soon, then HMY will set up to re-test or possibly take out its next major overhead resistance levels at $9.66 to $9.74.

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