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4 Stocks Ripping Higher on Unusual Volume

Traders should now look for long-biased trades in AXE as long as it's trending above some near-term support at $63.92, and then once it sustains a move or close above $66.89 with volume that hits near or above 253,664 shares. If that breakout triggers soon, then AXE will set up to re-fill its previous gap down zone from last May that started above $68.

Silicon Graphics International (SGI)

This company provides hardware and software technology within large-scale x86 cluster computing, HPC, Internet, Cloud Computing, large-scale data storage environments and visualization platforms across many verticals & geographies. This stock is trading up 5.6% at $11.48 in recent trading.

Today's Volume: 402,000

Average Volume: 228,585

Volume % Change: 180%

From a technical perspective, SGI is ripping higher here above some near-term support at $10 with above-average volume. This move has started to push shares of SGI into breakout territory, since the stock has taken out some near-term overhead resistance levels at $10.72 to $10.78.

Traders should now look for long-biased trades in SGI as long as it's trending above those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 228,585 shares as bullish. If SGI can maintain that trend, then this stock will set up to re-fill some of its previous gap down zone from last February that started above $14.

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.

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Stock quotes in this article: CTCT, CIEN, AXE, SGI 

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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