Wednesday's Volume: 570,000
Three-Month Average Volume: 404,058
Volume % Change: 65%
From a technical perspective, WWW spiked modestly higher here back above its 50-day moving average of $56.97 with above-average volume. This stock recently formed a double bottom at $55.33 to $55.07. Following that bottom, shares of WWW have now started to uptrend a bit and move within range of triggering a near-term breakout trade. That trade will hit if WWW manages to take out some near-term overhead resistance levels at $58 to $58.31 with high volume.
Traders should now look for long-biased trades in WWW as long as it's trending above $56 or above $55.07 and then once it sustains a move or close above those breakout levels with volume that's near or above 404,058 shares. If we get that move soon, then WWW will set up to re-test or possibly take out its 52-week high at $60.35. Any high-volume move above that level will then give WWW a chance to tag $65.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.
Twitter and become a fan on Facebook.