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TheStreet Open House

3 Tech Stocks Spiking on Big Volume

Today's Volume: 1.12 million

Average Volume: 835,951

Volume % Change: 179%

>>5 Hated Stocks to Beat the S&P in 2013

From a technical perspective, WDAY is trending higher here right above its 50-day moving average of $57.91 with above-average volume. This move has started to push shares of WDAY into breakout territory, since the stock has taken out some near-term overhead resistance at $60.06. This move is quickly pushing shares of WDAY within range of triggering another near-term breakout trade. That trade will hit if WDAY manages to take out some more resistance levels at $63.30 to $63.52 with high volume.

Traders should now look for long-biased trades in WDAY as long as it's trending above that first tier breakout level at $60.06 and then once it sustains a move or close above $63.30 to $63.52 with volume that hits near or above 835,951 shares. If that breakout triggers soon, then WDAY will set up to re-test or possibly take out its 52-week high at $65.

NetApp

NetApp (NTAP) is a supplier of enterprise storage and data management software and hardware products and services. This stock is trading up 2.1% to $34.19 in recent trading.

Today's Volume: 5.11 million

Average Volume: 5.80 million

Volume % Change: 50%

From a technical perspective, NTAP is bouncing higher here right above some near-term support at $33.11 with strong upside volume flows. This move is quickly pushing shares of NTAP within range of triggering a near-term breakout trade. That trade will hit if NTAP manages to take out some near-term overhead resistance levels at its 50-day moving average at $34.57 and then above more resistance at $34.95 with high volume.

Traders should now look for long-biased trades in NTAP as long as it's trending above some key near-term support at $33.11 or above its 200-day at $32.70 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.80 million shares. If that breakout triggers soon, then NTAP will set up to re-test or possibly take out its next major overhead resistance levels at $36.61 to $37.02.

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