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 Rocket Stocks for Turkey Day Trading
Three-Month Average Volume: 199,369
Volume % Change: 294% From a technical perspective, ANIK gapped sharply higher here right above some near-term support at $30.23 with heavy upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $14.20 to its intraday high of $32.70. During that uptrend, shares of ANIK have been making mostly higher lows and higher highs, which is bullish technical price action. This move on Monday pushed shares of ANIK into new 52-week-high territory, since the stock took out some near-term overhead resistance at $32.32. Traders should now look for long-biased trades in ANIK as long as it's trending above some near-term support at $30.23 and then once it sustains a move or close above Monday's high of $32.70 with volume that hits near or above 199,369 shares. If we get that move soon, then ANIK will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $37 to $40.