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3 Stocks Breaking Out on Big Volume

Ritchie Bros. Auctioneers

Ritchie Bros Auctioneers (RBA - Get Report) sells industrial equipment and other assets for the construction, agricultural, transportation, energy, mining, forestry, material handling, marine and real estate industries through its unreserved auctions and online marketplaces. This stock closed up 1.6% at $23.51 in Wednesday's trading session.

Wednesday's Volume: 1.11 million
Three-Month Average Volume: 516,733
Volume % Change: 125%

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From a technical perspective, RBA trended modestly higher here right above its 50-day moving average of $22.75 with above-average volume. This stock recently formed a double bottom chart pattern at $21.88 to $21.98. Since forming that bottom, shares of RBA have spiked higher back above its 50-day moving average of $22.75 with strong upside volume flows. That spike is quickly pushing shares of RBA within range of triggering a big breakout trade. That trade will hit if RBA manages to take out its 52-week high at $23.89 with high volume.

Traders should now look for long-biased trades in RBA as long as it's trending above its 50-day at $22.75 and then once it sustains a move or close above $23.89 with volume that's near or above 516,733 shares. If that breakout materializes soon, then RBA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $30 to $33.

Vera Bradley

Vera Bradley (VRA - Get Report), designs, produces, markets and retails accessories for women. This stock closed up 7.4% to $28.20 in Wednesday's trading session.

Wednesday's Volume: 3.67 million
Three-Month Average Volume: 439,150
Volume % Change: 714%

From a technical perspective, VRA ripped sharply higher here right above its 50-day moving average of $25.33 with monster upside volume. This move briefly pushed shares of VRA into breakout and new 52-week-high territory, after the stock flirted with some near-term overhead resistance at $28.60. Shares of VRA closed just below that level at $28.20 but well off its intraday low of $25.61. Market players should now look for a continuation move higher in the short-term if VRA manages to take out Wednesday's high of $28.77 with strong volume.

Traders should now look for long-biased trades in VRA as long as it's trending above $27 and then once it sustains a move or close above $28.77 with volume that hits near or above 439,150 shares. If we get that move soon, then VRA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $35 to $50.

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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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.
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SYM TRADE IT LAST %CHG
AMTD $33.52 3.55%
RBA $28.57 2.36%
VRA $10.21 2.30%
AAPL $111.88 2.00%
FB $89.35 2.50%

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DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
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