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7 Stocks Soaring on Unusual Volume

Vipshop Holdings (VIPS - Get Report)

This company offers high-quality branded products to consumers in China through flash sales on its vipshop.com website. This stock closed up 8.3% at $17.98 in recent trading.

Today's Volume: 202,000

Average Volume: 128,477

Volume % Change: 102%

From a technical perspective, VIPS trended sharply higher today right above some near-term support at $16.11 with above-average volume. This stock has been uptrending strongly for the last five months, with shares soaring from a low of $4.76 to its recent high of $19.31. During that move, shares of VIPS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed VIPS within range of triggering a major breakout trade. That trade will hit if VIPS manages to clear some near-term overhead resistance levels at $18.13 to $19.31 with high volume.

Traders should now look for long-biased trades in VIPS as long as it's trending above $16.11, and then once it sustains a move or close above those breakout levels with volume that hits near or above 128,477 million shares. If that breakout hits soon, then VIPS will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $22 to $23.

Molycorp (MCP - Get Report)

This company is a rare earth oxide producer in the Western Hemisphere. The company owns fully developed rare earth project outside of China. This stock closed up 12% at $11.54 in recent trading.

Today's Volume: 19.46 million

Average Volume: 7.29 million

Volume % Change: 134%

From a technical perspective, MCP ripped higher today right off some near-term support at $10 with monster upside volume. This move is quickly pushing MCP within range of triggering a major breakout trade. That trade will hit if MCP manages to take out some near-term overhead resistance levels at $11.37 to $11.75 and then once it clears more overhead resistance at $11.89 with high volume.

Traders should now look for long-biased trades in MCP as long as it's trending above $10, and then once it sustains a move or close above those breakout levels with volume that hits near or above 7.29 million shares. If that breakout hits soon, then MCP will set up to re-test or possibly take out its next major overhead resistance levels at $13 to $14.44.
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SYM TRADE IT LAST %CHG
GGC $54.58 0.00%
MCP $0.36 -5.61%
IMAX $37.41 0.00%
VVUS $1.30 0.00%
VIPS $20.57 0.00%

Markets

Chart of I:DJI
DOW 17,550.69 -47.51 -0.27%
S&P 500 2,093.32 -4.72 -0.22%
NASDAQ 5,105.5460 -9.8360 -0.19%

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