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ITT Educational Services (
ESI) offers postsecondary degree programs in the U.S. It offers diploma, associate, bachelor and master degree programs. This stock closed up 1.6% at $27.66 on Wednesday.
Wednesday's Volume: 1.28 million
Average Volume: 722,469
Volume % Change: 74%
>>5 Stocks Poised for Breakouts
From a technical perspective, ESI trended higher here and re-tested some near-term overhead resistance levels at $28.17 to $28.37 with above-average volume. At last check, ESI hit an intraday high of $28.52, and volume was well above its three-month average action of 722,469 shares. Shares of ESI could now be ready to trigger a major breakout trade if it can manage to take out Wednesday's high of $28.52 with high volume.
Traders should now look for long-biased trades in ESI as long as it's trending above Wednesday's low of $27.35 or above some more near-term support at $26.40, and then once it sustains a move or close above $28.52 with volume that hits near or above 722,469 shares. If that breakout triggers soon, then ESI will set up to re-test or possibly take out its next major overhead resistance levels at $32 to $35. Any high-volume move above those levels will then put its next major overhead resistance levels at $40 into range for shares of ESI.
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.