4 Stocks Spiking on Big Volume
Bottomline Technologies (EPAY - Get Report), provides cloud-based payment, invoice and banking solutions to corporations, insurance companies, financial institutions and banks worldwide. This stock closed up 2.9% at $28.49 in Wednesday's trading session.
Wednesday's Volume: 478,000
Three-Month Average Volume: 222,541
Volume % Change: 115%
From a technical perspective, EPAY jumped higher here right above some near-term support at $27.13 with above-average volume. This stock recently formed a double bottom chart pattern $27.31 to $27.13. Following that bottom, shares of EPAY have now started to trend higher off that $27.13 low and it's quickly moving within range of triggering a near-term breakout trade. That trade will hit if EPAY manages to take out Wednesday's intraday high of $28.54 to its 50-day moving average of $29.20 with high volume.
Traders should now look for long-biased trades in EPAY as long as it's trending above that recent low of $27.13 and then once it sustains a move or close above those breakout levels with volume that's near or above 222,541 shares. If that breakout gets underway soon, then EPAY will set up to re-test or possibly take out its next major overhead resistance levels at $30.83 to $31.50, or even its 200-day moving average of $32.41 to $33.30.Read More: 8 Stocks George Soros Is Buying
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