6 Stocks Rising on Huge Volume
Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it's always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock.
With that in mind, let's take a look at several stocks rising on unusual volume today .
G&K Services (GKSR) serves a variety of North American customers, enhancing their image and safety with work apparel and facility products and services. This stock is trading up 6% at $36.91 in recent trading.
Today's Volume: 185,000
Average Volume: 94,598
Volume % Change: 173%
Shares of GKSR are soaring today after the company declared a special cash dividend of $6 per share while also increasing its regular quarterly dividend by 50%.
From a technical perspective , GKSR is gapping up strong today on heavy volume, and it's breaking out above some past overhead resistance levels at $35 to $36.06.
Traders should now look for long-biased traders in GKSR as long as this stock is trending above $36.06 with strong upside volume flows. The next major breakout will trigger once GKSR takes out today's high of $38.65 with volume. Look for volume on a move over that level that's near or above 94,598 shares. MDC Partners
MDC Partners (MDCA) is a provider of marketing communications services to customers globally. This stock is trading up 4% at $10.88 in recent trading.
Today's Volume: 333,000
Average Volume: 130,184
Volume % Change: 305%
From a technical perspective, MDCA is bouncing sharply today with heavy volume off of extremely oversold levels. The current relative strength index (RSI) reading for MDCA is 36.64, which indicates and oversold condition.
Traders should now look for long biased trades once MDCA takes out its daily high of $11.45 with strong upside volume flows. If we get that move, look for MDCA to make a run at $12 to $12.76 (its 50-day) in the very near future. I would consider it bullish for MDCA to close near its daily highs today if it doesn't take it during the trading session.