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TheStreet Open House

3 Stocks Rising on Unusual Volume

Monotype Imaging

Monotype Imaging (TYPE) develops, markets and licenses technologies and fonts in the U.S., the U.K., Germany, Japan and rest of Asia. This stock closed up 4.1% at $26.66 in Monday's trading session.

Monday's Volume: 472,000
Three-Month Average Volume: 159,530
Volume % Change: 179%

From a technical perspective, TYPE ripped higher here with above-average volume. This stock has been downtrending over the last month and change, with shares moving lower from its high of $31.41 to its recent low of $23.52. During that move, shares of TYPE have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of TYPE have now started to bounce off those recent lows and it's entered breakout territory above some near-term overhead resistance at $25.92. Market players should now look for a continuation move higher in the short-term if TYPE manages to take out Monday's intraday high of $26.93 with strong volume.

Traders should now look for long-biased trades in TYPE as long as it's trending above Monday's low of $25.06 or above more near-term support at $24.53 and then once it sustains a move or close above $26.93 with volume that's near or above 159,530 shares. If that move gets underway soon, then TYPE will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day of $28.38 to its 50-dayat $28.85. Any high-volume move above those levels will then give TYPE a chance to tag $30 to $31.50.

AMC Networks

AMC Networks (AMCX) owns and operates various cable television brands delivering content to audiences, and a platform to distributors and advertisers in the U.S. and internationally. This stock closed up 1.1% at $58.68 in Monday's trading session.

Monday's Volume: 2.22 million
Three-Month Average Volume: 909,736
Volume % Change: 147%

From a technical perspective, AMCX trended modestly higher here right above its recent 52-week low of $53.99 with above-average volume. This stock has been downtrending badly for the last two months and change, with shares moving lower from its high of $78.39 to its recent low of $53.99. During that downtrend, shares of AMCX have been consistently making lower highs and lower lows, which is bearish technical price action. Shares of AMCX also gapped down recently from just above $66 to $53.99 with heavy downside volume. That said, shares of AMCX have now started to spike off its 52-week low with volume and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if AMCX manages to take out some near-term overhead resistance levels at $60.46 to its gap-down-day high of $60.90 with high volume.

Traders should now look for long-biased trades in AMCX as long as it's trending above Monday's low of $56.63 or above its 52-week low of $53.99 and then once it sustains a move or close above those breakout levels with volume that's near or above 909,736 shares. If that breakout materializes soon, then AMCX will set up to re-fill some of its previous gap-down-day zone that started just above $66.

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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