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TheStreet Open House

4 Stocks Spiking on Big Volume

OSI Systems

OSI Systems ( OSIS) is engaged in the design and manufacture of electronic systems and components for critical applications. This stock is trading up 4.1% to $55.70 in recent trading.

Today's Volume: 994,000
Average Volume: 285,882
Volume % Change: 386%

Shares of OSIS are ripping higher here after the company reported lower revenue but higher gross profit for the quarter.

>>5 Hated Earnings Stocks That Deserve Your Love

From a technical perspective, OSIS is surging higher here with above-average volume. This stock has been downtrending badly for the last month and change, with shares dropping from its high of $66.18 to its recent low of $48.10. During that move, shares of OSIS have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of OSIS now look to have broken its downtrending chart pattern and the stock is quickly moving within range of triggering a near-term breakout trade. That trade will hit if OSIS manages to take out some near-term overhead resistance levels at $55.87 to $59.44 with high volume.

Traders should now look for long-biased trades in OSIS as long as it's trending above $55, and then once it sustains a move or close above those breakout levels with volume that hits near or above 285,882 shares. If that breakout triggers soon, then OSIS will set up to re-test or possibly take out its next major overhead resistance levels at $62 to $64, or even its 200-day at $66.27.

FMC Technologies

FMC Technologies ( FTI) is a global provider of technology solutions for the energy industry. It designs, manufactures and services technologically sophisticated systems and products including subsea production and processing systems. This stock is trading up 3.2% at $52.27 in recent trading.

Today's Volume: 2.58 million
Average Volume: 2.02 million
Volume % Change: 121%

Shares of FTI are trending higher here after Sterne Agee says the stock should be bought on any weakness, noting that despite weaker-thantexpected quarterly results, the total orders came in higher than anticipated, while the full year guidance remains unchanged.

>>4 Tech Stocks Under $10 Ripping Higher

From a technical perspective, FTI is ripping higher here back above its 50-day moving average at $51.81 with above-average volume. This move is quickly pushing shares of FTI within range of triggering a major breakout trade. That trade will hit if FTI manages to take out its 52-week high at $55.49 with high volume.

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