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: 276,588
Volume % Change: 332% From a technical perspective, IDA gapped up notably higher here and broke out above some near-term overhead resistance at $52.94 with heavy upside volume. This stock has been uptrending strong for the last three months and change, with shares moving higher from its low of $45.24 to its intraday high of $53.44. During that uptrend, shares of IDA have been making mostly higher lows and higher highs, which is bullish technical price action. This move on Monday is now quickly pushing shares of IDA within range of triggering another big breakout trade. That trade will hit if IDA manages to take out Monday's high of $53.44 to its 52-week high at $54.74 with high volume. Traders should now look for long-biased trades in IDA as long as it's trending above Monday's low of $52.17 or above its 50-day at $50.85 and then once it sustains a move or close above those breakout levels with volume that hits near or above 276,588 shares. If that breakout hits soon, then IDA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $58 to $60.