MarketAxess

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MarketAxess ( MKTX) operates an electronic trading platform for corporate bonds and certain other types of fixed-income instruments. This stock is trading up 1.7% at $39.05 in recent trading.

Today's Volume: 433,000

Average Volume: 288,889

Volume % Change: 107%

From a technical perspective, MKTX is bouncing higher here right off its 50-day moving average of $38.49 with above-average volume. This move is quickly pushing shares of MKTX within range of triggering a breakout trade. That trade will hit if MKTX manages to take out some near-term overhead resistance at $40.48 with high volume.

Traders should now look for long-biased trades in MKTX as long as it's trending above its 50-day at $38.49, and then once it sustains a move or close above $40.48 with volume that hits near or above 288,889 shares. If that breakout hits soon, then MKTX will set up to re-test or possibly take out its next major overhead resistance levels at $42.50 to $42.61.

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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