3 Stocks Spiking on Big Volume

Manitex International

Manitex International (MNTX) is engaged in the design, manufacture and distribution of engineered lifting solutions. This stock is trading up 9.4% to $10.64 in recent trading.

Today's Volume: 180,000

Average Volume: 91,676

Volume % Change: 184%

From a technical perspective, MNTX is exploding higher here right off some near-term support at $9.50 with above-average volume. This stock has been uptrending strong for the last month and change, with shares soaring from its low of $6.60 to its intraday high of $10.65. During that move, shares of MNTX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MNTX into breakout territory, since the stock has started to move above its 52-week high of $10.60.

Traders should now look for long-biased trades in MNTX as long as it's trending above $9.50, and then once it sustains a move or close above $10.60 to $10.65 with volume that hits near or above 91,676 shares. If MNTX can maintain that trend, then this stock will have a great chance of tagging $13 to $15 in the near future.

Taylor Capital Group

Taylor Capital Group (TAYC) is a bank holding company for Cole Taylor Bank, which provides a range of products and services mainly to closely-held commercial customers. This stock is trading up 2.5% at $17.79 in recent trading.

Today's Volume: 226,000

Average Volume: 81,316

Volume % Change: 283%

From a technical perspective, TAYC is moving modestly higher here right above its 200-day moving average of $16.64 with above-average volume. This move is quickly pushing TAYC within range of triggering a near-term breakout trade. That trade will hit if TAYC manages to take out its 50-day moving average at $17.93 with high volume.

Traders should now look for long-biased trades in TAYC as long as it's trending above its 200-day at $16.64, and then once it sustains a move or close above its 50-day at $17.93 with volume that hits near or above 81,316 shares. If that breakout triggers soon, then TAYC will set up to re-test or possibly take out its next major overhead resistance levels at $18.50 to $18.92. Any high-volume move above $18.92 will then put $19.35 into range for shares of TAYC.

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