From a technical perspective, PHMD is ripping higher here right off its 50-day moving average of $14.83 with above-average volume. This move has started to push shares of PHMD into breakout territory, since the stock has taken out some near-term overhead resistance at $15.35. Shares of PHMD are now quickly moving within range of triggering a major breakout trade. That trade will hit if PHMD manages to take out some more near-term overhead resistance at $15.56 with high volume. At last check, PHMD has hit an intraday high of $15.78 and volume is well above its three-month average action of 133,632 shares.
Traders should now look for long-biased trades in PHMD as long as it's trending above its 50-day at $14.83, and then once it sustains a move or close above $15.35 to $15.78 with volume that hits near or above 133,632 shares. If that breakout hits soon, then PHMD will set up to re-test or possibly take out its next major overhead resistance levels at $17 to $19.18.
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.
Twitter and become a fan on Facebook.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts