Monday's Volume: 603,000
Three-Month Average Volume: 126,855
Volume % Change: 318%
From a technical perspective, ABTL soared higher here and broke out to a new 52-week high with heavy upside volume. This stock has been uptrending strong for the last five months, with shares ripping higher from its low of $4.56 to its intraday high of $12.25. During that uptrend, shares of ABTL have been consistently making higher lows and higher highs, which is bullish technical price action.
Traders should now look for long-biased trades in ABTL as long as it's trending above Monday's low of $11 or above $10 and then once it sustains a move or close above Monday's high of $12.25 with volume that's near or above 126,855 shares. If we get that move soon, then ABTL will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $14 to $15.
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.
Twitter and become a fan on Facebook.