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7 Stocks Soaring on Unusual Volume

Stocks in this article: VVUSIMAXGGCVIPSMCP

Today's Volume: 2.77 million

Average Volume: 677,003

Volume % Change: 251%

From a technical perspective, IMAX ripped higher today right above some near-term support at $22.50 with heavy upside volume. This move has started to push IMAX into breakout territory, since the stock has cleared some near-term overhead resistance at $23.29. Shares of IMAX are now moving within range of triggering another major breakout trade. That trade will hit once IMAX takes out some past overhead resistance levels at $23.82 to $23.95 with high volume. At last check, IMAX has hit an intraday high of $24.17.

Traders should now look for long-biased trades in IMAX as long as it's trending above $23, and then once it sustains a move or close above those breakout levels with volume that hits near or above 677,003 shares. If that breakout triggers soon, then IMAX will set up to re-test or possibly take out its next major overhead resistance levels at $25 to $25.99.

Georgia Gulf (GGC)

This company is a manufacturer and an international marketer of chlorovinyl and aromatics chemicals and also manufacture and market vinyl-based building and home improvement products. This stock closed up 2.6% at $43.47 in recent trading.

Today's Volume: 3.23 million

Average Volume: 889,428

Volume % Change: 291%

From a technical perspective, GGC bounced higher today right off its 50-day moving average of $41.93 with heavy upside volume. This move has started to push GGC into breakout territory, since the stock has pushed above some near-term overhead resistance at $43. Shares of GGC are now quickly moving within range of triggering another breakout trade. That trade will hit once GGC takes out some more near-term overhead resistance at $44.87 with high volume.

Traders should now look for long-biased trades in GGC as long as it's trending above its 50-day at $41.93, and then once it sustains a move or close above $43 to $44.87 with volume that hits near or above 889,428 shares. If that breakout triggers soon, then GGC will set up to re-test or possibly take out its next major overhead resistance levels at $46.26 to $47.08. Any move above $47.17 will then push GGC into new 52-week high territory, which is bullish technical price action.

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