Popular

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Popular ( BPOP) is a publicly owned bank holding company that offers retail and commercial banking services through its main banking subsidiary, Banco Popular de Puerto Rico. This stock is trading up 2.7% to $28.10 in recent trading.

Today's Volume: 1.15 million

Average Volume: 951,564

Volume % Change: 69%

From a technical perspective, BPOP is trending up here right above some near-term support at $26.60 with above-average volume. This stock is also starting to spike back above its 50-day moving average of $27.76, which is quickly pushing shares of BPOP within range of triggering a near-term breakout trade. That trade will hit if BPOP manages to take out some near-term overhead resistance levels at $29 to its 52-week high at $29.78 with high volume.

Traders should now look for long-biased trades in BPOP as long as it's trending above today's low of $26.95 or above its 50-day at $27.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 951,564 shares. If that breakout hits soon, then BPOP will set up to enter new 52-week-high territory above $29.78, which is bullish technical price action. Some possible upside targets off that move are $34 to $35.

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 technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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