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4 Tech Stocks Rising on Unusual Volume

Geospace Technologies

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Geospace Technologies ( GEOS) designs and manufactures instruments and equipment used by the oil and gas industry in the acquisition and processing of seismic data as well as in reservoir characterization and monitoring activities. This stock closed up 0.29% at $72.35 in Wednesday's trading session.

Wednesday's Volume: 620,000
Three-Month Average Volume: 158,544
Volume % Change: 270%

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From a technical perspective, GEOS spiked higher here and briefly traded back above its 50-day moving average of $75.28 with strong upside volume. This stock has been downtrending badly for the last five months, with shares plunging from its high at $111.36 to its recent low of $65.31. During that move, shares of GEOS have been making mostly lower highs and lower lows, which is bearish technical price action. That said, shares of GEOS have started to rebound over the last month from $65.31 to its recent high of $79.91. That rebound could be setting up GEOS to reverse its downtrend and begin a more sustained uptrend.

Traders should now look for long-biased trades in GEOS as long as it's trending above Wednesday's low of $70.40 and then once it breaks out above some near-term overhead resistance levels at $77.83 to $79.91 with volume that's near or above 158,544 shares. If that breakout hits soon, then GEOS will set up to re-test or possibly take out its 200-day moving average of $84.97. Any high-volume move above $84.97 will then give GEOS a chance to tag its next major overhead resistance levels at $90 to $93.

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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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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