Dolby Laboratories ( DLB)

This company develops and delivers innovative technologies, products and services at each stage of the entertainment industry, including content creation, content distribution and content playback. This stock is trading up 4% at $35.56 in recent trading.

Today's Volume: 1.50 million

Average Volume: 744,837

Volume % Change: 256%

Shares of DLB are trending higher today after the company announced a one-time special dividend of $4 a share. The dividend will be paid on Dec.27 to shareholders of record as of the close of business on Dec. 21.

From a technical perspective, DLB is gapping up sharply here right below its 200-day moving average of $36.79 with heavy upside volume. At last check, DLB has hit an intraday high of $37.01 and volume is well above its three-month average action of 744,837 shares.

Traders should now look for long-biased trades in DLB as long as it's trending above its 200-day at $36.79 with strong upside volume flows. I would consider any upside volume day that registers near or above its three-month average action of 744,837 shares as bullish. If DLB can maintain that trend, then this stock will set up to re-test or possibly take out its next significant overhead resistance level at $39.18.

Globus Medical ( GMED)

This is a medical device company focused exclusively on the design, development and commercialization of products that promote healing in patients with spine disorders. This stock is trading up 3.5% at $11.98 in recent trading.

Today's Volume: 419,000

Average Volume: 255,540

Volume % Change: 210%

From a technical perspective, GMED is bouncing strongly to the upside here right above some near-term support at $11.12 with above-average volume. This stock has been downtrending badly for the least two months, with shares dropping from its high of $19.93 to its recent low of $11.12. During that move, shares of GMED were mostly making lower highs and lower lows, which is bearish technical price action. That said, shares of GMED are starting to rebound off that recent low of $11.12 and off of oversold territory. The current relative strength index (RSI) reading for GMED shows an oversold level at 33.45.

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