Traders should now look for long-biased trades in TWI as long as it's trending above Wednesday's low of $14.95, and then once it sustains a move or close above those breakout levels with volume that's near or above 834,547 shares. If that breakout hits soon, then TWI will set up to re-test or possibly take out its next major overhead resistance levels at $17.75 to $18.25. Any high-volume move above those levels will then give TWI a chance to tag $19 to $20.
ING US (
VOYA) offers a range of retirement, insurance and investment management products and services to its individual and corporate clients. This stock closed up 1.4% at $30.24 in Wednesday's trading session.
Wednesday's Volume: 1.41 million
>>5 Stocks Poised for Breakouts
Three-Month Average Volume: 701,377
Volume % Change: 115%
From a technical perspective, VOYA rose modestly higher here right above some near-term support at $29 with above-average volume. This stock recently formed a double bottom at $28.64 to $28.79. After marking that bottom, shares of VOYA have now started to uptrend and move within range of triggering a near-term breakout trade. That trade will hit if VOYA manages to take out Wednesday's high of $30.46 to some more resistance at $30.63 with high volume.
Traders should now look for long-biased trades in VOYA as long as it's trending above some near-term support at $29 and then once it sustains a move or close above those breakout levels with volume that's near or above 701,377 shares. If that breakout hits soon, then VOYA will set up to re-test or possibly take out its all-time high at $32.70. Any high-volume move above that level will then give VOYA a chance to tag $35 to $40.
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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