4 Stocks Spiking on Big Volume

Goodrich Petroleum

Goodrich Petroleum (GDP) explores, exploits, develops and produces oil and natural gas properties in East Texas and Northwest Louisiana. This stock is trading up 7.6% to $12.84 in recent trading.

Today's Volume: 1.74 million

Average Volume: 1.10 million

Volume % Change: 143%

From a technical perspective, GDP is soaring higher here back above its 200-day moving average of $12.05 with above-average volume. This move is quickly pushing shares of GDP within range of triggering a near-term breakout trade. That trade will hit if GDP manages to take out some near-term overhead resistance levels at $13.84 to $13.95 with high volume.

Traders should now look for long-biased trades in GDP as long as it's trending above its 200-day at $12.05, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.10 million shares. If that breakout hits soon, then GDP will set up to re-test or possibly take out its next major overhead resistance levels at $15.06 to $15.19. Any high-volume move above $15.19 will then put $16.88 to $17.35 into range for shares of GDP.

Constellation Brands

Constellation Brands (STZ) operates as a wine company in the U.S., Canada, the U.K., Australia and New Zealand. This stock is trading up 1.1% at $42.25 in recent trading.

Today's Volume: 5.79 million

Average Volume: 4.24 million

Volume % Change: 156%

From a technical perspective, STZ is bouncing higher here right above some near-term support at $41.13 with above-average volume. This stock recently gapped up huge from around $32 to $44.20 with heavy upside volume. Following that gap up, shares of STZ have consolidated around $42 to $41 and its now quickly moving within range of triggering a near-term breakout trade. That trade will hit if STZ manages to take out some near-term overhead resistance at $44.20 with high volume.

Traders should now look for long-biased trades in STZ as long as it's trending above $41.13 to $40 and then once it sustains a move or close above $44.20 with volume that hits near or above 4.24 million shares. If that breakout triggers soon, then STZ will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $48 to $50.

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