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TheStreet Open House

5 Stocks Triggering Breakouts on Big Volume

Keryx Biopharmaceuticals

Keryx Biopharmaceuticals ( KERX) is a biopharmaceutical company engaged in the acquisition, development and commercialization of medically important pharmaceutical products for the treatment of cancer and renal disease. This stock closed up 19.7% to $10.49 in Wednesday's trading session.

Wednesday's Volume: 9.47 million
Three-Month Average Volume: 1.98 million
Volume % Change: 426%

From a technical perspective, KERX exploded higher here right above some near-term support at $8.61and back above its 50-day moving average of $9.29 with monster upside volume. This move has taken shares of KERX out of its recent downtrend over the last few weeks, which saw the stock fall from $10.92 to its recent low of $8.61. Shares of KERX are now quickly moving within range of triggering a major breakout trade. That trade will hit if KERX manages to take out Wednesday's high of $10.58 to its 52-week high at $10.92 with high volume.

Traders should now look for long-biased trades in KERX as long as it's trending above its 50-day at $9.29, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.98 million shares. If that breakout hits soon, then KERX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $15.

Phoenix New Media

Phoenix New Media ( FENG) is a new media company providing premium content on an integrated platform across Internet, mobile and TV channels in China. This stock closed up 6.1% at $11.67 in Wednesday's trading session.

Wednesday's Volume: 1.32 million
Three-Month Average Volume: 771,903
Volume % Change: 175%

From a technical perspective, FENG ripped higher here right above some near-term support at $10.96 with above-average volume. This stock just formed a double bottom chart pattern at $11.02 to $10.96. Shares of FENG are now quickly moving within range of triggering a big breakout trade. That trade will hit if FENG manages to take out some near-term overhead resistance at $11.90 to its 52-week high at $13 with high volume.

Traders should now look for long-biased trades in FENG as long as it's trending above some key near-term support levels at $10.96 or its 50-day at $10.27 and then once it sustains a move or close above those breakout levels with volume that this near or above 771,903 shares. If that breakout hits soon, then FENG will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $16.

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