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TheStreet Open House

5 Stocks Rising on Unusual Volume

Iconix Brand Group

Iconix Brand Group ( ICON) is a brand management company. This stock closed up 2.2% at $35.74 in Wednesday's trading session.

Wednesday's Volume: 1.22 million
Three-Month Average Volume: 565,162
Volume % Change: 129%

From a technical perspective, ICON trended higher here into new 52-week-high territory with above-average volume. This stock recently broke out above some near-term overhead resistance at $34.63 with strong upside volume. Market players can now look for a continuation pattern higher for shares of ICON, if it can make a new 52-week high again.

Traders should now look for long-biased trades in ICON as long as it's trending above Wednesday's low of $35 or above $34 and then once it sustains a move or close above Wednesday's high of $35.95 with volume that's near or above 565,162 shares. If we get that move soon, then ICON will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $40 to $43.

Wex

Wex ( WEX) provides value-based business processing and information management solutions. This stock closed up 4.3% at $91.09 in Wednesday's trading session.

Wednesday's Volume: 415,000
Three-Month Average Volume: 151,485
Volume % Change: 210%

From a technical perspective, WEX ripped higher here and broke out above some near-term overhead resistance at $88.62 to $88.94 with above-average volume. This stock also flirted with new 52-week high territory, since it challenged its former 52-week high at $91.84, before closing just below that level at $91.09. Market players can now look for a continuation trend higher if WEX can manage to tag new 52-week highs in the near-term.

Traders should now look for long-biased trades in WEX as long as it's trending above Wednesday's low of $87.63 and then once it sustains a move or close above Wednesday's high of $92.83 levels with volume that's near or above 151,485 shares. If we get that move soon, then WEX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $100 to $105.

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