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4 Stocks Rising on Unusual Volume

China HGS Real Estate

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China HGS Real Estate (HGSH - Get Report) engages in real estate development, primarily in the construction and sale of residential apartments, car parks as well as commercial properties. This stock is trading up 5.5% to $10.86 in recent trading.

Today's Volume: 84,000

Average Volume: 66,373

Volume % Change: 76%

From a technical perspective, HGSH is bouncing sharply higher here right above some near-term support levels at $9.69 to $10.05 with above-average volume. This move is quickly pushing shares of HGSH within range of triggering a major breakout trade. That trade will hit if HGSH manages to clear its 52-week high at $11.52 with high volume. At last check, HGSH has hit an intraday high of $11.30, and volume is well above its three-month average action of 66,373 shares.

Traders should now look for long-biased trades in HGSH as long as it's trending above some key near-term support at $10.05 and then once it sustains a move or close above $11.30 to $11.52 with volume that hits near or above 66,373 shares. If that breakout hits soon, then HGSH will set up to enter new 52-week high-territory above $11.52, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $14.

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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Follow Stockpickr on Twitter and become a fan on Facebook.

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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