ITT Educational Services

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ITT Educational Services ( ESI) offers postsecondary degree programs in the U.S. This stock closed up 8.9% at $30 in Monday's trading session.

Monday's Volume: 733,000
Three-Month Average Volume: 695,885
Volume % Change: 65%

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From a technical perspective, ESI soared higher here right above its 50-day moving average of $25.78 with above-average volume. This stock recently formed a double bottom chart pattern at $26.21 to $26.01. Following that bottom, shares of ESI have rebounded sharply higher and into breakout territory above $29.35. At last check, ESI closed strong at its intraday high of $30 with volume that was slightly above its three-month average action of 695,885 shares.

Traders should now look for long-biased trades in ESI as long as it's trending above Monday's low of $27.27 and then once it sustains a move or close above Monday's high of $30 with volume that's near or above 695,885 shares. If we get that move 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 $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 Delafield, Wis.


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

Roberto Pedone, based out of Delafield, 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 and You can follow Pedone on Twitter at or @zerosum24.

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