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MarketAxess(MKTX - Get Report) operates an electronic trading platform for corporate bonds and certain other types of fixed-income instruments. This stock is trading up 1.7% at $39.05 in recent trading.
Today's Volume: 433,000
Average Volume: 288,889
Volume % Change: 107%
From a technical perspective, MKTX is bouncing higher here right off its 50-day moving average of $38.49 with above-average volume. This move is quickly pushing shares of MKTX within range of triggering a breakout trade. That trade will hit if MKTX manages to take out some near-term overhead resistance at $40.48 with high volume.
Traders should now look for long-biased trades in MKTX as long as it's trending above its 50-day at $38.49, and then once it sustains a move or close above $40.48 with volume that hits near or above 288,889 shares. If that breakout hits soon, then MKTX will set up to re-test or possibly take out its next major overhead resistance levels at $42.50 to $42.61.
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.