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TheStreet Open House

7 Stocks Soaring on Unusual Volume

Stock quotes in this article: VVUS, IMAX, GGC, VIPS, MCP

Onyx Pharmaceuticals (ONXX)

This is a biopharmaceutical company dedicated to developing innovative therapies that target the molecular mechanisms that cause cancer. This stock closed up 1% at $82.17 in recent trading.

Today's Volume: 1.98 million

Average Volume: 996,654

Volume % Change: 102%

From a technical perspective, ONXX spiked higher today right off some near-term support at $80 with above-average volume. This move is quickly pushing shares of ONXX within range of triggering a near-term breakout trade. That trade will hit if ONXX manages to take out some near-term overhead resistance levels at $83.16 to $85 with high volume. At last check, ONXX has hit an intraday high of $84.85 and volume is well above its three-month average action of 996,654 shares.

Traders should now look for long-biased trades in ONXX as long as it's trending above $81.60, and then once it sustains a move or close above those breakout levels with volume that this near or above 996,654 shares. If that breakout triggers soon, then ONXX will set up to re-test or possibly take out its next major overhead resistance levels at $87.50 to $90.

Titan International (TWI)

This company manufactures both wheels and tires for its target markets. This stock closed up 4.6% at $22.90 in recent trading.

Today's Volume: 1.21 million

Average Volume: 641,043

Volume % Change: 80%

From a technical perspective, TWI bounced higher today right off its 200-day moving average of $21.79 with above-average volume. This stock has been uptrending strongly for the last three months, with shares soaring from a low of $16.86 to its recent high of $22.76. During that move, shares of TWI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed TWI within range of triggering a major breakout trade. That trade will hit if TWI manages to take out some near-term overhead resistance levels at $22.54 to $22.67 with high volume. At last check, TWI has hit an intraday high of $22.99 and volume is well above its three-month average action of 641,043 shares.

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