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TheStreet Open House

4 Tech Stocks Spiking on Big Volume

Parametric Sound

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Parametric Sound ( PAMT) is a sound technology company focused on delivering directed parametric sound solutions to customers primarily in digital signage, point-of-purchase, in-store networks and related markets. This stock is trading up 3.9% at $10.91 in recent trading.

Today's Volume: 356,000

Average Volume: 81,857

Volume % Change: 601%

From a technical perspective, PAMT is trending higher here with above-average volume. This move has started to push shares of PAMT into breakout territory, since the stock has taken out some near-term overhead resistance at $10.82. At last check, PAMT has hit an intraday high of $11.40 and volume is well above its three-month average action of 81,857 shares. Shares of PAMT are now quickly moving within range of triggering an even bigger breakout trade. That trade will hit if PAMT manages to clear its all-time high of $11.74 with high volume.

Traders should now look for long-biased trades in PAMT as long as it's trending above today's low of $10.50, and then once it sustains a move or close above $11.74 with volume that hits near or above 81,857 shares. If that breakout hits soon, then PAMT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $15 in the near future.

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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