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TheStreet Open House

3 Stocks Rising on Unusual Volume

Stock quotes in this article: HOS, FEYE, SMCI



FireEye

FireEye (FEYE) provides products and services for detecting, preventing and resolving advanced cybersecurity threats. This stock closed up 2.9% to $27.89 in Friday's trading session.

Friday's Volume: 8.43 million
Three-Month Average Volume: 5.22 million
Volume % Change: 195%

From a technical perspective, FEYE bounced higher here right above its 52-week low of $25.58 with strong upside volume flows. This move is quickly pushing shares of FEYE within range of triggering a near-term breakout trade. That trade will hit if FEYE manages to take out some key near-term overhead resistance levels at $29.08 to $29.80 with high volume.

Traders should now look for long-biased trades in FEYE as long as it's trending above Friday's low of $26.30 or above its 52-week low of $25.58 and then once it sustains a move or close above those breakout levels with volume that hits near or above 5.22 million shares. If that breakout hits soon, then FEYE will set up to re-test or possibly take out its recent gap-down-day high of $31.25. Any high-volume move above that level will then give FEYE a chance to re-fill some of its recent gap-down-day zone that started at $40.75.

Hornbeck Offshore Services

Hornbeck Offshore Services (HOS), through its subsidiaries, operates offshore supply vessels and multi-purpose support vessels primarily in the U.S. Gulf of Mexico and Latin America. This stock closed up 4% at $43.50 in Friday's trading session.

Friday's Volume: 1.84 million
Three-Month Average Volume: 690,275
Volume % Change: 184%

From a technical perspective, HOS jumped sharply higher here with strong upside volume flows. This spike higher on Friday pushed shares of HOS into breakout territory, since the stock took out some near-term overhead resistance at $42.63. Shares of HOS are now starting to move within range of triggering another big breakout trade. That trade will hit if HOS manages to take out Friday's intraday high of $44.24 to some past overhead resistance at $44.36 with high volume.

Traders should now look for long-biased trades in HOS as long as it's trending above Friday's low of $41.99 or above $41 and then once it sustains a move or close above those breakout levels with volume that hits near or above 690,275 shares. If that breakout starts soon, then HOS will set up to re-test or possibly take out its next major overhead resistance levels at $47.31 to its 200-day moving average of $48.59.

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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