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3 Tech Stocks Rising on Unusual Volume

VMware (VMW - Get Report) provides virtualization infrastructure solutions in the U.S. and internationally. This stock closed up 3.2% to $101.83 in Wednesday's trading session.

Wednesday's Volume: 3.18 million
Three-Month Average Volume: 1.34 million
Volume % Change: 115%

From a technical perspective, VMW jumped notably higher here and broke out above some near-term overhead resistance at $99.36 with above-average volume. This uptick higher on Wednesday pushed shares of VMW inside of its previous gap-down-day zone from April that started at $107.32. Market players should now look for a continuation move to the upside in the short-term if VMW manages to take out Wednesday's intraday high of $102.31 with high volume.

Traders should now look for long-biased trades in VMW as long as it's trending above $99.36 or above Wednesday's intraday low of $98.99 and then once it sustains a move or close above $102.31 with volume that hits near or above 1.34 million shares. If that move gets underway soon, then VMW will set up to re-fill the rest of that gap from April that started at $107.32. Any high-volume move above $107.32 will then give VMW a chance to tag $110 to its 52-week high at $112.89.

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VJET $5.91 0.00%
VMW $81.28 0.00%
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