4 Stocks Spiking on Big Volume

Monro Muffler Brake

Monro Muffler Brake (MNRO) is engaged mainly in providing automotive under car repair services in the U.S. This stock is trading up 4% at $38.78 in recent trading.

Today's Volume: 877,000

Average Volume: 320,520

Volume % Change: 271%

From a technical perspective, MNRO is ripping higher here right off some near-term support at $37 with above-average volume. This move is quickly pushing shares of MNRO within range of triggering a near-term breakout trade. That trade will hit if MNRO manages to take out some key overhead resistance levels at $39.15 to $39.51 with high volume.

Traders should now look for long-biased trades in MNRO as long as it's trending above $37 and then once it sustains a move or close above those breakout levels with volume that hits near or above 877,000 shares. If that breakout triggers soon, then MNRO will set up to re-test or possibly take out its next major overhead resistance levels at $41.94 to $43.29.

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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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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