Traders should now look for long-biased trades in WMT as long as it's trending above its 200-day at $70.14 and then once it sustains a move or close above those breakout levels with volume that hits near or above 8.81 million shares. If that breakout triggers soon, then WMT will set up to re-test or possibly take out its next major overhead resistance levels at $73.87 to $75.
Linn Energy (LINE), an independent oil and natural gas company, seeks to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. This stock is trading up 2% at $37.39 in recent trading.
Today's Volume: 3.16 millionAverage Volume: 1.71 million Volume % Change: 166% Shares of LINE are spiking higher today after the company agreed to purchase Berry Petroleum for $2.42 million in stock to increase is proven reserves by 34%. From a technical perspective, LINE is bouncing higher here back above both its 50-day moving average at $36.68 and its 200-day moving average at $37.25 with heavy upside volume. This move is quickly pushing the stock within range of triggering a near-term breakout trade., which will hit if LINE manages to take out some near-term overhead resistance levels at $38.50 to $38.77 and then once it takes out more resistance at $39.47 with high volume. Traders should now look for long-biased trades in LINE as long as it's trending above $37.35 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.71 million shares. If that breakout triggers soon, then LINE will set up to re-test or possibly take out its next major overhead resistance levels at $41.60 to $42.57. 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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