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5 Stocks Rising on Unusual Volume

Stocks in this article: CTRPWWWWAGCZRSI

Wolverine World Wide ( WWW) designs, manufactures and markets quality casual footwear and apparel, performance outdoor and athletic footwear and apparel, children's footwear, industrial work boots and apparel, and uniform shoes and boots. This stock closed up 1% at $57.93 on Wednesday.

Wednesday's Volume: 944,000
Average Volume: 440,062
Volume % Change: 142%

Shares of WWW trended modestly higher on Wednesday after the company hiked its full-year adjusted earnings outlook to $2.60 to $2.75 per share, vs. analysts' estimates of $2.31 per share.

>>5 Stocks Set to Soar on Bullish Earnings

From a technical perspective, WWW trended higher here right above some near-term support at $54 with above-average volume. This stock has been uptrending strong for the last few weeks, with shares soaring higher from its low of $49.32 to its recent high of $60.35. During that move, shares of WWW have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of WWW within range of triggering a near-term breakout trade. That trade will hit if WWW manages to take out its 52-week high at $60.35 with high volume.

Traders should now look for long-biased trades in WWW as long as it's trending above Wednesday's low of $56.42 and then once it sustains a move or close above its 52-week high at $60.35 with volume that hits near or above 440,062 shares. If that breakout triggers soon, then WWW will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $65 to $70.

Walgreen

Walgreen ( WAG) operates retail drug store and general merchandise. It is engaged in the retail sale of prescription and non-prescription drugs and general merchandise. This stock closed up 3% at $47.85 on Wednesday.

Wednesday's Volume: 16.53 million
Average Volume: 6.13 million
Volume % Change: 161%

Shares of WAG spiked higher on Wednesday after the company raised its quarterly dividend by 14.5% to $0.315 from $0.275.

>>5 Summer Buy Signals From the Health Care Sector

From a technical perspective, WAG trended higher here right above some near-term support at $46 with heavy upside volume. This move is quickly pushing shares of WAG within range of triggering a near-term breakout trade. That trade will hit if WAG manages to clear its 50-day moving average at $48.28 with high volume.

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