NXP Semiconductors

NXP Semiconductors (NXPI) provides high-performance mixed signal and standard product solutions for radio frequency, analog, power management, interface, security and digital processing products worldwide. This stock closed up 2% to $58.09 in Wednesday's trading session.

Wednesday's Volume: 5.04 million
Three-Month Average Volume: 3.24 million
Volume % Change: 56%

From a technical perspective, NXPI jumped notably higher here with above-average volume. This stock recently formed a double bottom chart pattern at $55.90 to $56.13. Following that bottom, shares of NXPI have started to uptrend and move within range of triggering a near-term breakout trade. That trade will hit if NXPI manages to take out Wednesday's high of $60.31 to its 52-week high at $60.48 with high volume.

Traders should now look for long-biased trades in NXPI as long as it's trending above Wednesday's low of $57.43 or above more support at $55.90 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.24 million shares. If that breakout gets underway soon, then NXPI will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $65 to $70.

Bio-Reference Laboratories

Bio-Reference Laboratories (BRLI) provides clinical laboratory testing services for the detection, diagnosis, evaluation, monitoring and treatment of diseases primarily in the greater New York metropolitan area. This stock closed up 3.6% at $28.26 in Wednesday's trading session.

Wednesday's Volume: 473,000
Three-Month Average Volume: 323,530
Volume % Change: 65%

From a technical perspective, BRLI jumped sharply higher here and broke out above some near-term overhead resistance at $27.89 with above-average volume. This move briefly pushed shares of BRLI back above its 200-day moving average of $28.32 before the stock closed just below that level at $28.26. Market players should now look for a continuation move higher in the short-term if BRLI manages to take out Wednesday's high of $29.02 with strong volume.

Traders should now look for long-biased trades in BRLI as long as it's trending above Wednesday's low of $27.39 or above its 50-day at $26.28 and then once it sustains a move or close above $29.02 with volume that's near or above 323,530 shares. If that breakout triggers soon, then BRLI will set up to re-fill some of its previous gap-down-day zone from last November that started near $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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