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AWAY) is an online marketplace for the vacation rental industry. This stock closed up 3% at $29.25 in Wednesday's trading session.
Wednesday's Volume: 2.04 million
Three-Month Average Volume: 1.03 million
Volume % Change: 94%
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From a technical perspective, shares of AWAY bounced higher here right above some near-term support at $27.70 and above its 200-day moving average at $27.62 with above-average volume. This stock bounce is coming after a recent downtrend for shares of AWAY that took the stock from its high of $34 to $27.70. During that move, shares of AWAY were consistently making lower highs and lower lows, which is bearish technical price action. Shares of AWAY are now starting to move within range of triggering a near-term breakout trade. That trade will hit if AWAY manages to take out its 50-day at $30.89 and then once it clears more resistance at $31.42 with high volume.
Traders should now look for long-biased trades in AWAY as long as it's trending above its 200-day at $27.62 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.03 million shares. If that breakout hits soon, then AWAY will set up to re-test or possibly take out its next major overhead resistance levels at $33.74 to $34.
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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