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 Hated Earnings Stocks You Should Love
Three-Month Average Volume: 326,695
Volume % Change: 292% >>5 Rocket Stocks to Buy in November From a technical perspective, MLM soared higher here back above its 200-day moving average of $100.32 and into breakout territory above $100.50 with strong upside volume. This stock recently formed a double bottom chart pattern at $94.25 to $94.01. Following that bottom, shares of MLM have started to uptrend and move back above both its 50-day and 200-day moving averages. That move has now pushed shares of MLM within range of triggering a breakout trade. That trade will hit if MLM manages to take out Monday's high of $104.56 to some past overhead resistance at $106.54 with high volume. Traders should now look for long-biased trades in MLM as long as it's trending above its 200-day at $100.32 and then once it sustains a move or close above those breakout levels with volume that's near or above 326,695 shares. If that breakout triggers soon, then MLM will set up to re-test or possibly take out its next major overhead resistance levels at $110 to $112.76, or its 52-week high at $113.65.