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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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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