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5 Tech Stocks Spiking on Big Volume

Yandex

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Yandex (YNDX) is an Internet company that offers access to its search engine through personal computers, mobile phones, tablets and navigation and other digital devices. This stock closed up 1.5% at $33.70 in Wednesday's trading session.

Wednesday's Volume: 3.40 million
Three-Month Average Volume: 2.46 million
Volume % Change: 80%

>>5 Rocket Stocks to Buy Before They Blast Off

From a technical perspective, YNDX spiked modestly higher here into new 52-week high territory with decent upside volume. This stock has been uptrending strong for the last three months and change, with shares soaring higher from its low of $19.93 to its intraday high of $34.79. During that move, shares of YNDX have been making mostly higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in YNDX as long as it's trending above some key near-term support levels at $32 or above $31.92, and then once it sustains a move or close above Wednesday's high and its new 52-week high at $34.79 with volume that's near or above 2.46 million shares. If we get that move soon, then YNDX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are its next major overhead resistance levels at $39.67 to its all-time high at $42.01.

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