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51job(JOBS - Get Report) is a nationwide provider of integrated human resource services in China, with a strong focus on recruitment advertising. This stock is trading up 8% at $52.52 in recent trading.
Today's Volume: 121,000
Average Volume: 58,975
Volume % Change: 216%
From a technical perspective, JOBS is bouncing strongly to the upside here right off its 50-day moving average of $49.26 with above-average volume. This stock recently formed a double bottom chart pattern at $45.01 to $45.60. Following that bottom, shares of JOBS have spiked well above both its 50-day and 200-day moving averages. That move is now pushing JOBS within range of triggering a major breakout trade. That trade will hit if JOBS manages to take out some near-term overhead resistance levels at $54 to $54.50 with high volume.
Traders should now look for long-biased trades in JOBS if it manages to sustain a move or close above those breakout levels at $54 to $54.50 with volume that hits near or above 58,975 shares. If that breakout triggers soon, then JOBS will set up to re-test or possibly take out its next major overhead resistance levels at $60 to $61.40.
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.