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Nationstar Mortgage (
NSM) services residential mortgage loans throughout the U.S. This stock closed up 2.8% at $42.16 on Friday.
Friday's Volume: 1.51 million
Average Volume: 1.17 million
Volume % Change: 50%
>> 3 Big Stocks on Traders' Radars
From a technical perspective, NSM jumped higher here right off its 50-day moving average of $40.97 with above-average volume. This move is quickly pushing shares of NSM within range of triggering a near-term breakout trade. That trade will hit if NSM manages to take out some near-term overhead resistance at $44.35 with high volume.
Traders should now look for long-biased trades in NSM as long as it's trending above its 50-day at $40.97 or above more near-term support at $40, and then once it sustains a move or close above $44.35 with volume that's near or above 1.17 million shares. If that breakout triggers soon, then NSM set up to re-test or possibly take out its all-time high at $46.91. Any high-volume move above $46.91 will then give NSM a chance to hit or trend north of $50.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Delafield, Wis.
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