4 Stocks Spiking on Big Volume
Rock-Tenn
Rock-Tenn (RKT) is a leading integrated manufacturers of corrugated & consumer packaging in North America. This stock is trading up 4.6% at $83.25 in recent trading.
Today's Volume: 1.46 million
Average Volume: 573,418
Volume % Change: 226% From a technical perspective, RKT is ripping higher here right above some near-term support at $77.09 with above-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $61.06 to its intraday high of $84.68. During that move, shares of RKT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now started to push shares of RKT into breakout territory, since the stock has flirted with some near-term overhead resistance at $84.10. At last check, RKT has hit an intraday high of $84.68 and volume is well above its three-month average action of 573,418 shares. Traders should now look for long-biased trades in RKT as long as it's trending above $82 and then once it sustains a move or close above those breakout levels at $84.10 to $84.68 with volume that hits near or above 573,418 shares. If that breakout triggers soon, then RKT will set up to enter new 52-week-high territory above $84.68, which is bullish technical price action. Some possible upside targets off that breakout are $87 to $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.Follow Stockpickr on Twitter and become a fan on Facebook.
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