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 Stocks Poised for Breakouts
Three-Month Average Volume: 1.13 million
Volume % Change: 331% >>5 Stocks With Big Insider Buying From a technical perspective, FENG ripped sharply higher here and broke out above some near-term overhead resistance at $10.35 with heavy upside volume. This stock has been uptrending modestly for the last month, with shares moving higher from its low of $8.08 to its intraday high of $10.38. During that move, shares of FENG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FENG within range of triggering a near-term breakout trade. That trade will hit if FENG manages to take out Friday's high of $10.38 and its 50-day moving average of $10.94 with high volume. Traders should now look for long-biased trades in FENG as long as it's trending above Friday's low of $9.65 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.13 million shares. If that breakout hits soon, then FENG will set up to re-test or possibly take out its next major overhead resistance levels at $12.50 to its 52-week high at $13.38.