Traders should now look for long-biased trades in ANGO as long as it's trending above some near-term support levels at $14 or $13.50 and then once it sustains a move or close above those breakout levels with volume that's near or above 118,626 shares. If that breakout hits soon, then ANGO will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are its next major overhead resistance levels at $16.50 to $17, or even $20.
SCTY) is engaged in designing, sales, engineering, installation, monitoring, maintenance and financing of solar energy systems to residential and commercial customers, and sale of electricity generated by solar energy systems to customers. This stock closed up 12.5% at $52.38 in Wednesday's trading session.
Wednesday's Volume: 14.78 million
Three-Month Average Volume: 2.97 million
Volume % Change: 337%
From a technical perspective, SCTY exploded higher here right above some near-term support at $45 with monster upside volume. This stock has been uptrending strong over the last month and change, with shares moving higher from its low of $28.31 to its intraday high of $52.65. During that uptrend, shares of SCTY have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of SCTY within range of triggering a major breakout trade. That trade will hit if SCTY manages to take out its all-time high of $52.77 with high volume.
Traders should now look for long-biased trades in SCTY as long as it's trending above Wednesday's low of $47.12, and then once it sustains a move or close above $52.77 with volume that's near or above 2.97 million shares. If that breakout hits soon, then SCTY will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $60 to $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.
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