Traders should now look for long-biased trades in BONT as long as it's trending above that low of $9.85 and then once it sustains a move or close above Wednesday's high of $11 with volume that's near or above 228,850 shares. If we get that move soon, then BONT will set up to re-test or possibly take out its next major overhead resistance levels at $11.46 to its 50-day moving average at $11.95. Any high-volume move above $11.95 to $12.33 will then give BONT a chance to tag $13 to $14.
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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