Average Volume: 2.06 million
Volume % Change: 158% Shares of AGO are trending higher here after the company said it will be paid $358 million by UBS AG to settle a lawsuit that accused the bank of falsely representing the quality of the loans underlying $1.49 million of mortgage-backed securities. From a technical perspective, shares of AGO are breaking out here above some near-term overhead resistance levels at $20.79 to $21.30 with heavy upside volume. This move has pushed shares of AGO into new 52-week-high territory, which is bullish technical price action. Traders should now look for long-biased trades in AGO as long as it's trending above those near-term breakout levels or above today's low of $21.21, and then once it sustains a move or close above its 52-week high at $22.46 with volume that hits near or above 2.06 million shares. If AGO can sustain this move, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $25 to $27. To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr. -- Written by Roberto Pedone in Madison, Wis.
Twitter and become a fan on Facebook.