Layne Christensen

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Layne Christensen ( LAYN) is a global water management, construction and drilling company. The company provides solutions for water, mineral and energy challenges. This stock is trading up 8.6% at $21.09 in recent trading.

Today's Volume: 266,000

Average Volume: 170,069

Volume % Change: 163%

>>5 Stocks With Big Insider Buying

From a technical perspective, LAYN is ripping higher here back above its 50-day moving average of $20.31 with above-average volume. This move is quickly pushing LAYN within range of triggering a major breakout trade. That trade will hit once LAYN manages to clear its 200-day at $21.72, and then once it takes out some more overhead resistance at $22.48 with high volume.

Traders should now look for long-biased trades in LAYN as long as it's trending above its 50-day at $20.31, and then once it sustains a move or close above those breakout levels with volume that's near or above 170,069 shares. If that breakout triggers soon, then look for LAYN to re-test or possibly take out its next major overhead resistance levels at $22.48 to $23.03, or possibly even $24.50.

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.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.
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.

If you liked this article you might like

IPOs That Should Be on Your Radar

Illumina Lights the Way for Biotechs

Illumina Lights the Way for Biotechs

Trader's Daily Notebook: Anemic Trading Would Be an Improvement