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Netspend(NTSP) is a provider of general-purpose reloadable prepaid debit cards, or GPR cards, and related alternative financial services to under banked consumers in the U.S. This stock is trading up 5.1% at $12.88 in recent trading.
Today's Volume: 1.42 million
Average Volume: 522,887
Volume % Change: 272%
From a technical perspective, NTSP is spiking higher here right above its gap up day high from Thursday at $12 with monster upside volume. This move has now pushed shares of NTSP into new 52-week high territory above $12.75, which is bullish price action. At last check, NTSP has hit an intraday high of $12.95 and volume is well above its three-month average action of 522,887 shares.
Traders should now look for long-biased trades in NTSP as long as it's trending above today's low of $12.39 or that gap up day high of $12, and then once it sustains a move or close above $12.46 to $12.75 with volume that hits near or above 522,887 shares. If that breakout triggers soon, then NTSP will set up to re-test or possibly take out its next major overhead resistance level at $15.90
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.