Charles Schwab

Charles Schwab (SCHW), through its subsidiaries, provides securities brokerage, banking, money management and financial advisory services. This stock closed up 3.2% at $27.58 in Wednesday's trading session.

Wednesday's Volume: 18.77 million
Three-Month Average Volume: 6.82 million
Volume % Change: 171%

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From a technical perspective, SCHW spiked notably higher here and broke out above some near-term overhead resistance at $27.31 with strong upside volume. This spike pushed shares of SCHW into new 52-week-high territory, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if SCHW manages to take out Wednesday's high of $27.75 with strong volume.

Traders should now look for long-biased trades in SCHW as long as it's trending above some near-term support at$26.50 or above its 50-day moving average of $25.85 and then once it sustains a move or close above $27.75 with volume that hits near or above 6.82 million shares. If that move gets underway soon, then SCHW will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $33 to $35.

Calamos Asset Management

Calamos Asset Management (CLMS) is a publicly owned investment manager. The firm provides investment advisory services to individuals, including high-net-worth individuals, and institutions. This stock closed up 5.1% at $13.43 in Wednesday's trading session.

Wednesday's Volume: 446,000
Three-Month Average Volume: 180,082
Volume % Change: 150%

From a technical perspective, CLMS ripped sharply higher here right off some near-term support at $12.75 with above-average volume. This move is quickly pushing shares of CLMS within range of triggering a major breakout trade. That trade will hit if CLMS manages to take out Wednesday's high of $13.47 to its 52-week high at $13.69 with high volume.

Traders should now look for long-biased trades in CLMS as long as it's trending above Wednesday's low of $12.82 or above some more near-term support at $12.42 and then once it sustains a move or close above those breakout levels with volume that's near or above 180,082 shares. If that breakout kicks off soon, then CLMS will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $20.

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