DELAFIELD, Wis. ( Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.>>5 Rocket Stocks to Buy for Earnings Season
Three-Month Average Volume: 935,116
Volume % Change: 100% >>5 Stocks Under $10 Set to Soar From a technical perspective, JNY ripped higher here with above-average volume. This spike is coming after shares of JNY recently sold off from its high of $17 to its intraday low of $15.29. Shares of JNY now look ready to reverse that downtrend and potentially trigger a major breakout trade. That trade will hit if JNY manages to take out some near-term overhead resistance levels at $16.45 to its 52-week high at $17 with high volume. Traders should now look for long-biased trades in JNY as long as it's trending above Monday's low of $15.29 and then once it sustains a move or close above those breakout levels with volume that hits near or above 935,116 shares. If that breakout triggers soon, then JNY will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $20 to $23. Keep in mind that JNY is set to report earnings on July 31 before the market open. I would look to play that breakout ahead of the quarter and then readjust the next breakout levels after earnings if the stock reacts positively to the numbers.