ITT Educational Services

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ITT Educational Services ( ESI) offers postsecondary degree programs in the U.S. It offers diploma, associate, bachelor and master degree programs. This stock closed up 1.6% at $27.66 on Wednesday.

Wednesday's Volume: 1.28 million
Average Volume: 722,469
Volume % Change: 74%

>>5 Stocks Poised for Breakouts

From a technical perspective, ESI trended higher here and re-tested some near-term overhead resistance levels at $28.17 to $28.37 with above-average volume. At last check, ESI hit an intraday high of $28.52, and volume was well above its three-month average action of 722,469 shares. Shares of ESI could now be ready to trigger a major breakout trade if it can manage to take out Wednesday's high of $28.52 with high volume.

Traders should now look for long-biased trades in ESI as long as it's trending above Wednesday's low of $27.35 or above some more near-term support at $26.40, and then once it sustains a move or close above $28.52 with volume that hits near or above 722,469 shares. If that breakout triggers soon, then ESI will set up to re-test or possibly take out its next major overhead resistance levels at $32 to $35. Any high-volume move above those levels will then put its next major overhead resistance levels at $40 into range for shares of ESI.

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

-- Written by Roberto Pedone in Madison, Wis.

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

Roberto Pedone, based out of Madison, Wis., 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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