Traders should now look for long-biased trades in IRBT as long as it's trending above $22.50 and then once it sustains a move or close above $24.26 with volume that hits near or above 306,807 shares. If that breakout triggers soon, then IRBT will set up to re-test or possibly take out its next major overhead resistance levels at $27.16 to $28.91. Any high-volume move above $28.91 will then give IRBT a chance to re-fill some of its previous gap down zone from last February that started at $38.33.
ITT Educational Services
ITT Educational Services (ESI) provides postsecondary degree programs in the U.S. It offers diploma, associate, bachelor and master degree programs. This stock is trading up 5.7% at $15.14 in recent trading.
Today's Volume: 3.16 millionAverage Volume: 800,325 Volume % Change: 261% Shares of ESI are ripping higher today despite the fact the company posted disappointing fourth-quarter results and issued a dim outlook for 2013. From a technical perspective, ESI is soaring higher here after hitting a new 52-week low of $11.69 with heavy upside volume. This stock has been downtrending badly for the last six months, with shares plunging lower from $40.15 to today's low of $11.69. During that move, shares of ESI have been mostly making lower highs and lower lows, which is bearish technical price action. That said, the bounce today is quickly pushing ESI within range of triggering a near-term breakout trade. That trade will hit if ESI manages to take out some near-term overhead resistance levels at $14.85 to its 50-day at $17.13 with high volume. Traders should now look for long-biased trades in ESI as long as it's trending above $14.85, and then once it sustains a move or close above $17.13 with volume that hits near or above 800,325 shares. If that breakout triggers soon, then ESI will set up to re-test or possibly take out its next major overhead resistance levels at $19.45 to $20.38. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr.
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