This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NRG Energy (
NRG) is a wholesale power generation and retail electricity company that produces and delivers energy and energy services in major competitive power markets in the U.S. This stock closed up 3.9% at $26.52 in Wednesday's trading session.
Wednesday's Volume: 7.31 million
Three-Month Average Volume: 3.67 million
Volume % Change: 110%
>>5 Short-Squeeze Stocks Ready to Pop
From a technical perspective, NRG spiked sharply higher here right above some near-term support at $25.24 and right above its 200-day moving average at $24.79 with strong upside volume. This move is quickly pushing shares of NRG within range of triggering a near-term breakout trade. That trade will hit if NRG manages to take out its 50-day moving average at $26.88 to more near-term overhead resistance at $27.07 with high volume.
Traders should now look for long-biased trades in NRG as long as it's trending above its 200-day at $24.79 and then once it sustains a move or close above those breakout levels with volume that's near or above 3.67 million shares. If that breakout triggers soon, then NRG will set up to re-test or possibly take out its next major overhead resistance levels at $27.50 to $28.50. Any high-volume move above those levels will then give NRG a chance to tag its 52-week high at $29.19.
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.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.