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%
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.