Randgold Resources

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Randgold Resources ( GOLD) is engaged in gold mining, exploration and related activities. This stock is trading up 2.5% at $118.70 in recent trading.

Today's Volume: 512,000

Average Volume: 577,550

Volume % Change: 80%

From a technical standpoint, GOLD is quickly approaching a major breakout trade here now that this stock is within range of clearing some near-term overhead resistance at $120.73. Keep in mind that any move for GOLD above $120.73 will push this stock into all-time high territory, which is bullish price action.

Market players should now look for long biased trades in GOLD if it can take out $120.73 on heavy volume. Look for volume on a move above that level that registers near or above 577,550 shares.

To see more stocks rising on unusual volume, check out the Stocks Rising On Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.


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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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