4 Stocks Spiking on Unusual Volume
Traders should now look for long-biased trades in MAKO as long as it's trending above its 50-day at $11.80, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.17 million shares. If that breakout hits soon, then MAKO will set up to re-test or possibly take out its next major overhead resistance levels at $14.30 to $14.98. Any high-volume move above those levels will then put $16.28 to $16.90 into range for shares of MAKO.
NetSol Technologies (NTWK) designs, develops, markets and exports proprietary software products to customers in the automobile finance and leasing, banking, healthcare, and financial services industries worldwide. This stock is trading up 4.6% at $11.29 in recent trading.
Today's Volume: 312,000Average Volume: 136,337 Volume % Change: 183% From a technical perspective, NTWK is ripping higher here right off some near-term support at $10.50 with heavy upside volume. This stock has been uptrending strong for the last two months, with shares soaring higher from its low of $5.70 to its recent high of $11.89. During that uptrend, shares of NTWK have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of NTWK within range of triggering a near-term breakout trade. That trade will hit if NTWK manages to take out its 52-week high of $11.89 with high volume. Traders should now look for long-biased trades in NTWK as long as it's trending above $10.50, and then once it sustains a move or close above its 52-week high at $11.89 with volume that hits near or above 136,337 shares. If that breakout triggers soon, then NTWK will set up to re-fill some of its previous gap down zone from last July that started near $16. 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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