EnerSys ( ENS) manufactures, markets and distributes industrial batteries and related products such as chargers, power equipment and battery accessories. This stock closed up 1.3% to $68.58 in Wednesday's trading session.
Wednesday's Volume: 874,000
Three-Month Average Volume: 274,742
Volume % Change: 251%
From a technical perspective, ENS ripped higher here right above some near-term support at $66 to $64.50 with strong upside volume. This stock has been uptrending strong for the last six months, with shares moving higher from it low of $47.05 to its recent high of $69.32. During that uptrend, shares of ENS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ENS within range of triggering a near-term breakout trade. That trade will hit if ENS manages to take out Wednesday's high of $68.81 to its 52-week high at $69.32 with high volume.Traders should now look for long-biased trades in ENS as long as it's trending above Wednesday's low of $67.11 or above more support at $64.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 274,742 shares. If that breakout hits soon, then ENS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $75 to $80. Insys Therapeutics Insys Therapeutics ( INSY) is a specialty pharmaceutical company that develops and commercializes supportive care products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. This stock closed up 8.4% at $44.31 in Wednesday's trading session. Wednesday's Volume: 640,000
Three-Month Average Volume: 262,182
Volume % Change: 144% From a technical perspective, INSY spiked sharply higher here right above its 50-day moving average of $38.88 with above-average volume. This move is quickly pushing shares of INSY within range of triggering a near-term breakout trade. That trade will hit if INSY manages to take out Wednesday's high of $45.57 to more near-term overhead resistance at $48 with high volume. Traders should now look for long-biased trades in INSY as long as it's trending above Wednesday's low of $41.11 or above its 50-day at $38.88 and then once it sustains a move or close above those breakout levels with volume that's near or above 262,182 shares. If that breakout hits soon, then INSY will set up to re-test or possibly take out its all-time high at $53.64. Any high-volume move above that level will then give INSY a chance to tag $55 to $60.
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