DELAFIELD, Wis. ( Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.>>5 Stocks With Big Insider Buying
Three-Month Average Volume: 1.62 million
Volume % Change: 465% From a technical perspective, GDP ripped sharply higher here right above some near-term support at $25 with heavy upside volume. This stock recently formed a double bottom chart pattern at $24.22 to $24.51. Following that bottom, shares of GDP have started to rebound sharply and move within range of triggering a big breakout trade. That trade will hit if GDP manages to take out Wednesday's high of $28.18 to its 52-week high at $28.55 with high volume. Traders should now look for long-biased trades in GDP as long as it's trending above Wednesday's low of $25.95 or above those double bottom levels and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.62 million shares. If that breakout hits soon, then GDP will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $33 to $35.