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TheStreet Open House

4 Stocks Ripping Higher on Unusual Volume

>>5 Rocket Stocks Worth Buying This Week

Ciena (CIEN)

This company is a provider of equipment, software and service solutions that support the transport, switching, aggregation and management of voice, video and data traffic on communications networks. This stock is trading up 3.8% at $15.25 in recent trading.

Today's Volume: 6.62 million

Average Volume: 3.60 million

Volume % Change: 218%

From a technical perspective, CIEN is ripping higher here back above both its 200-day at $14.72 and its 50-day at $15.05 with monster upside volume. This stock recently sold off from its high of $16.72 to its low of $14.37. Now shares are rebounding off that $14.37 low and clearing both of those key moving averages.

Traders should now look for long-biased trades in CIEN as long as it's trending above its 200-day moving average of $14.72 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 3.60 million shares as bullish. If CIEN can maintain that trend, then this stock has a great chance of re-testing its recent high of $16.72. Any move above $16.72 will then put $17.85 to $18.39 into range for shares of CIEN.

Anixter International (AXE)

This company distributes communications & electrical wire and cable products and fasteners and other small parts. Its products include data, video, & security products used to connect personal computers, peripheral equipment &, among others. This stock is trading up 2.8% at $66.86 in recent trading.

Today's Volume: 378,000

Average Volume: 253,664

Volume % Change: 152%

From a technical perspective, AXE is bouncing to the upside here right off some near-term support at $64 with above-average volume. This stock has been uptrending strongly for the last two months and change, with shares soaring from its low of $54.11 to its recent high of $66.89. During that move, shares of AXE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed AXE within range of triggering a near-term breakout trade. That trade will hit if AXE clears some near-term overhead resistance at $66.89 with high volume.

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