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4 Stocks Spiking on Big Volume

A.M. Castel

A.M. Castel (CAS - Get Report) is a specialty metals and plastics distribution company. Its core products include nickel alloys, aluminum, stainless steel and carbon in various forms, such as plate, bars, tubing and coil. This stock closed up 9% at $14.88 in Mondays trading session.

Mondays Volume: 487,000
Three-Month Average Volume: 156,083
Volume % Change: 204%

From a technical perspective, CAS gapped sharply higher here back above its 50-day moving average of $14.27 and into breakout territory above some near-term overhead resistance at $14.37 with strong upside volume. This move pushed shares of CAS out of its downtrend that had a grip on the stock over the last five months. Market players should now look for a continuation move higher in the short-term if CAS manages to take out Monday's high of $15.28 to some more near-term overhead resistance at $15.47 with high volume.

Traders should now look for long-biased trades in CAS as long as its trending above Monday's low of $14.07, and then once it sustains a move or close above $15.28 to $15.47 with volume thats near or above 156,083 shares. If we get that move soon, then CAS will set up to re-test or possibly take out its next major overhead resistance levels at $16.75 to $17.38. Any high-volume move above those levels will then give CAS a chance to tag its 52-week high at $18.74.

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SYM TRADE IT LAST %CHG
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