Pembina Pipeline

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Pembina Pipeline ( PBA) is a Calgary-based company engaged in providing transportation and midstream services. This stock closed up 4% at $31.93 in Monday's trading session.

Monday's Volume: 336,000
Three-Month Average Volume: 183,066
Volume % Change: 86%

From a technical perspective, PBA ripped higher here right off its 50-day moving average of $31.20 with above-average volume. This move is quickly pushing shares of PBA within range of triggering a near-term breakout trade. That trade will hit if PBA manages to take out some near-term overhead resistance levels at $31.94 to $32.28 with high volume.

Traders should now look for long-biased trades in PBA as long as it's trending above its 50-day at $31.20 or above more near-term support at $30.50 and then once it sustains a move or close above those breakout levels with volume that's near or above 183,066 shares. If that breakout hits soon, then PBA will set up to re-test or possibly take out its next major overhead resistance levels at $33.51 to its 52-week high at $34.70. Any high-volume move above $34.70 will then give PBA a chance to trend well north of $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 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 CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

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