Wednesday's Volume: 3.52 million
Three-Month Average Volume: 1 million
Volume % Change: 251%
From a technical perspective, UNXL ripped sharply higher here with heavy upside volume. This move pushed shares of UNXL into breakout territory, after the stock took out some near-term overhead resistance at $19.59. Shares of UNXL also flirted with its 200-day moving average at $20.29 and more resistance at $20.39, after the stock hit an intraday high of $20.83.
Traders should now look for long-biased trades in UNXL as long as it's trending above Wednesday's low of $18.23 and then once it sustains a move or close above Wednesday's high of $20.83 with volume that hits near or above 1 million shares. If we get that move soon, then UNXL will set up to re-test or possibly take out its next major overhead resistance level at $25.
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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