Shutterstock ( SSTK) operates marketplace for commercial digital imagery. This stock closed up 8.5% at $72.39 in Friday's trading session.
Friday's Volume: 566,000
Three-Month Average Volume: 231,198
Volume % Change: 95%
From a technical perspective, SSTK ripped sharply higher here back above its 50-day moving average of $66.95 with above-average volume. This stock has been trending sideways for the last month and change, with shares moving between $64.01 on the downside and $76.12 on the upside. This spike on Friday is quickly pushing shares of SSTK within range of triggering a major breakout trade above the upper-end of its recent sideways trading chart pattern. That breakout will hit if SSTK manages to take out Friday's high of $73.82 to $75.72, and then once it takes out more resistance at $76.07 to its all-time high at $76.12 with high volume.Traders should now look for long-biased trades in SSTK as long as it's trending above its 50-day at $66.95 and then once it sustains a move or close above those breakout levels with volume that's near or above 231,198 shares. If that breakout hits soon, then SSTK will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $80 to $85. 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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