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4 Stocks Spiking on Big Volume

Horizon Technology

Horizon Technology (HRZN) is a specialty finance company that provides secured loans to companies backed by established venture capital and private equity firms in the technology, life science, health care information and services, and cleantech industries. This stock closed up 5.2% to $15.14 on Wednesday.

Wednesday's Volume: 312,000

Average Volume: 72,618

Volume % Change: 296%

From a technical perspective, HRZN ripped higher here right above some near-term support at $14.05 and moved back above both its 200-day moving average at $14.91 and its 50-day moving average at $14.95 with heavy upside volume. This move is quickly pushing shares of HRZN with range of triggering a near-term breakout trade. That trade will hit if HRZN manages to take out some near-term overhead resistance levels at $15.60 to $15.75 with high volume.

Traders should now look for long-biased trades in HRZN as long as it's trending above its 200-day at $14.91 and then once it sustains a move or close above those breakout levels with volume that hits near or above 72,618 shares. If that breakout hits soon, then HRZN will set up to re-test or possibly take out its next major overhead resistance level at $17.08. A high-volume move above $17.08 will then out its 52-week high of $18.17 into range for shares of HRZN.

American Axle & Manufacturing

American Axle & Manufacturing (AXL) manufactures, engineers, designs and validates driveline and drivetrain systems and related components and chassis modules for light trucks, sport utility vehicles, passenger cars, crossover vehicles and commercial vehicles. This stock closed up 6.5% at $13.72 on Wedneday.

Wednesday's Volume: 3.06 million

Average Volume: 1.66 million

Volume % Change: 84%

From a technical perspective, AXL ripped higher here right above its 50-day moving average of $12.41 with monster upside volume. This stock has been uptrending strong for the last five months, with shares moving higher from its low of $9.27 to its intraday high of $13.72. During that move, shares of AXL have been consistently making higher lows and higher highs, which is bullish technical price action. This stock managed to tag a brand new 52-week high on Wednesday at $13.72.

Stock quotes in this article: AXL, FBR, RDEN, HRZN 

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