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4 Stocks Spiking on Big Volume

Stocks in this article: JDSU CLVS GHL SM

Traders should now look for long-biased trades in GHL as long as it's trending above today's low of $51.06, and then once it sustains a move or close above those breakout levels with volume that hits near or above 266,107 shares. If that breakout triggers soon, then GHL will set up to re-test or possibly take out its next major overhead resistance levels at $56 to its 50-day moving average at $57.33.

SM Energy

SM Energy (SM)is an independent energy company engaged in the acquisition, exploration, development and production of oil, gas and NGLs in onshore North America. This stock is trading up 4.5% to $61.62 in recent trading.

Today's Volume: 1.37 million

Average Volume: 937,227

Volume % Change: 123%

From a technical perspective, SM is ripping higher here right above its 50-day moving average of $58.39 with above-average volume. This move has started to push shares of SM into breakout territory, since the stock has moved above some near-term overhead resistance at $60.31. This move is quickly pushing shares of SM within range of triggering another major breakout trade. That trade will hit if SM manages to take out some near-term overhead resistance at $62.26 with high volume. At last check, SM has hit an intraday high of $62.48 with strong volume, so the stock is already starting to flirt with that breakout.

Traders should now look for long-biased trades in SM as long as it's trending above near-term support at $60 or above that first breakout level at $60.31 and then once it sustains a move or close above $62.26 to $62.48 with volume that hits near or above 937,227 shares. If that breakout hits soon, then SM will set up to re-test or possibly take out its 52-week high at $68.77.

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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