4 Stocks Spiking on Unusual Volume
Traders should now look for long-biased trades in CGX as long as it's trending above $38.34, and then once it sustains a move or close above $40 with volume that hits near or above 59,926 shares. If that breakout triggers soon, then CGX will set up to re-test or possibly take out its next major overhead resistance levels at $43.76 to $45.
K12 (LRN) is a technology-based education company, which offers proprietary curriculum and educational services created for online delivery to students in kindergarten through 12th grade. This stock is trading up 5.8% at $19.38 in recent trading.
Today's Volume: 597,000Average Volume: 317,839 Volume % Change: 198% Shares of LRN are ripping higher today after the company's earnings beat last year's by 118%. From a technical perspective, LRN is spiking higher here right above some near-term support at $17.77 and back above its 50-day moving average of $19.09 with above-average volume. This move is quickly pushing shares of LRN within range of triggering a near-term breakout trade. That trade will hit if LRN manages to take out its 200-day moving average at $20.70 and then once it clears more overhead resistance at $21.50 with high volume. Traders should now look for long-biased trades in LRN as long as it's trending above its 50-day at $19.09, and then once it sustains a move or close above those breakout levels with volume that hits near or above 317,839 shares. If that breakout triggers soon, then LRN will set up to re-test or possibly take out its next major overhead resistance levels at $22.40 to $22.68. Any high-volume move above $22.68 will then put $23.94 into range for shares of LRN. 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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