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4 Tech Stocks Spiking on Big Volume

NQ Mobile

NQ Mobile ( NQ) is engaged in the provision of mobile Internet services in the People's Republic of China and overseas market. Its service portfolio includes mobile security and privacy protection, mobile games and advertising. This stock closed up 5.7% at $12.78 in Wednesday's trading session.

Wednesday's Volume: 2.49 million
Three-Month Average Volume: 707,990
Volume % Change: 246%

>>5 Bargain Bin Stocks to Buy in 2013

From a technical perspective, NQ spiked sharply higher here with monster upside volume. This stock has been uptrending incredibly strong for the last month and change, with shares soaring higher from its low of $7.05 to its intraday high of $12.95. During that move, shares of NQ have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of NQ into new 52-week- and all-time-high territory above $12.70, which is bullish technical price action.

Traders should now look for long-biased trades in NQ as long as it's trending above $12 or $11.50 and then once it sustains a move or close above its new all-time high of $12.95 with volume that's near or above 707,990 shares. If we get that move soon, then NQ will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $18 to $20.

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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Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including
CNBC.com and Forbes.com . You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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