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Rogers Communications(RCI - Get Report) is a communications and media company in Canada operating in three segments: wireless, cable and media. This stock is trading up 3.4% at $47.06 in recent trading.
Today's Volume: 703,000
Average Volume: 251,860
Volume % Change: 350%
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From a technical perspective, RCI is spiking higher here right off its 50-day moving average of $45.77 with above-average volume. This stock has been uptrending strong for the last six months, with shares moving higher from its low of $38.70 to its intraday high of $47.49. During that move, shares of RCI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RCI into breakout territory and new 52-week-high territory, since the stock has flirted with some near-term overhead resistance at $47.09. At last check, RCI has hit an intraday high of $47.49 and volume is well above its three-month average action of 251,860 shares.
Traders should now look for long-biased trades in RCI as long as it's trending above its 50-day at $45.77, and then once it sustains a move or close above $47.09 to $47.49 with volume that hits near or above 251,860 shares. If that breakout triggers soon, then RCI will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $50 to $53.
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.