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 - Get Report)
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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