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TheStreet Open House

4 Tech Stocks Rising on Unusual Volume

WebMD Health

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WebMD Health (WBMD) provides health information services to consumers, physicians and other health care professionals, employers and health plans through its public and private online portals and health-focused publications. This stock closed up 1.6% at $33.70 in Wednesday's trading session.

Wednesday's Volume: 1.32 million
Three-Month Average Volume: 690,686
Volume % Change: 170%

>>5 Rocket Stocks Set to Rally

From a technical perspective, WBMD spiked modestly higher here with strong upside volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $25.18 to its recent high of $35.28. During that move, shares of WBMD have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of WBMD within range of triggering a major breakout trade. That trade will hit if WBMD manages to clear its 52-week high at $35.28 with high volume.

Traders should now look for long-biased trades in WBMD as long as it's trending above $32 or $31 and then once it sustains a move or close above its 52-week high at $35.28 with volume that's near or above 690,686 shares. If that breakout hits soon, then WBMD will set up to enter new 52-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $43.

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