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5 Tech Stocks Rising on Big Volume

Stocks in this article: NKONGOVTILVLTBITA

Bitauto

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Bitauto ( BITA) is a provider of Internet content and marketing services for China's automotive industry. This stock closed up 1.2% at $15.11 in Monday's trading session.

Monday's Volume: 520,000
Three-Month Average Volume: 191,020
Volume % Change: 275%

>>5 Stocks Ready to Break Out

From a technical perspective, BITA trended modestly higher here right above some near-term support at $14 with heavy upside volume. This move is quickly pushing shares of BITA within range of triggering a major breakout trade. That trade will hit if BITA manages to take out some near-term overhead resistance levels at $15.75 to $15.80 with high volume.

Traders should now look for long-biased trades in BITA as long as it's trending above some near-term support at $14 or $13 and then once it sustains a move or close above those breakout levels with volume that's near or above 191,020 shares. If that breakout hits soon, then BITA will set up to re-test or possibly take out its 52-week high at $18.10. Any high-volume move above $18.10 will then give BITA a change to tag and trend north of $20.

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