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Stocks Under $10 with 50-100% upside potential - 14 days FREE!

4 Stocks Rising on Unusual Volume

Stocks in this article: POT PRAA EMES PBA

Portfolio Recovery Associates

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Portfolio Recovery Associates ( PRAA) is engaged in the business of purchasing, managing and collecting portfolios of defaulted consumer receivables, as well as offering accounts receivable management and payment services. This stock closed up 3.8% to $54.53 in Monday's trading session.

Monday's Volume: 629,000
Three-Month Average Volume: 435,466
Volume % Change: 50%

>>5 Stocks to Watch for Breakout Trades

From a technical perspective, PRAA jumped higher here and broke out above some near-term overhead resistance levels at $53 to $54.62 with above-average volume. This move also pushed shares of PRAA into new 52-week-high territory, which is bullish technical price action. If this breakout holds, then shares of PRAA could be setting up to trend significantly higher.

Traders should now look for long-biased trades in PRAA as long as it's trending above Monday's low of $52.71 to $52 and then once it sustains a move or close above its new 52-week high at $54.93 with volume that hits near or above 435,466 shares. If we get that move soon, then PRAA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $60 to $65.

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