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 Set to Soar on Bullish Earnings
Three-Month Average Volume: 554,255
Volume % Change: 224% From a technical perspective, MENT ripped sharply higher here right above its 50-day moving average of $22.27 with strong upside volume. This move pushed shares of MENT into breakout territory, since the stock took out some near-term overhead resistance levels at $22.82 to $22.92. Shares of MENT also flirted with a new 52-week high on Monday, after the stock challenged its previous 52-week high at $23.72. Market players should now look for a continuation move higher for MENT in the short-term if this stock manages to take out its new 52-week high at $23.88 with high volume. Traders should now look for long-biased trades in MENT as long as it's trending above $23 or above Monday's low of $22.48, and then once it sustains a move or close above $23.88 with volume that's near or above 554,255 shares. If we get that move soon, then MENT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $26 to $30.