GATX (GMT) leases, operates, manages and remarkets assets in the rail and marine markets in North America and internationally. This stock closed up 0.99% at $59.19 in Monday's trading session.
Monday's Volume: 559,000
Three-Month Average Volume: 226,631
Volume % Change: 146%
From a technical perspective, GMT spiked modestly higher here with above-average volume. This stock recently gapped up sharply higher from around $52 to its high of $61.16 with heavy upside volume. Since that move, shares of GMT have sold modestly to its recent low of $58.78. Shares of GMT are now starting to trend within range of triggering a near-term breakout trade. That trade will hit if GMT manages to take out Monday's high of $60.72 to its 52-week high at $61.16 with high volume.Traders should now look for long-biased trades in GMT as long as it's trending above Monday's low of $58.78 or above $58 and then once it sustains a move or close above those breakout levels with volume that's near or above 226,631 shares. If that breakout hits soon, then GMT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $65 to $70. 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.
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