3 Must-See Stocks Soaring on Unusual Volume
Sanofi (SNY)
This is a global healthcare company offering solutions across areas of core historical strength and multiple growth platforms. The company discovers, develops and distributes therapeutic solutions focused on patient's needs. This stock is trading up 3.5% at $46.91 in recent trading.
Today's Volume: 9.68 million
Average Volume: 1.39 million
Volume % Change: 748% From a technical perspective, SNY is ripping higher here right above some near-term support at $44.50 with monster upside volume. This move is quickly pushing shares of SNY within range of triggering a near-term breakout trade. That trade will hit if SNY manages to take out its 50-day moving average at $47.38 with high volume. Traders should now look for long-biased trades in SNY as long as it's trending above today's low of $45.46, and then once it sustains a move or close above its 50-day at $47.38 with volume that hits near or above 1.39 million shares. If that breakout triggers soon, then SNY will set up to re-test or possibly take out its next major overhead resistance levels at $48.26 to $49.50. Any high-volume move above $49.56 will then push SNY into new 52-week high territory, which is bullish technical price action. 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.Follow Stockpickr on Twitter and become a fan on Facebook. 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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