4 Stocks Rising on Big 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.
Five Below (FIVE) is a rapidly growing specialty value retailer offering a broad range of trend-right, high-quality merchandise targeted at the aspirational teen and pre-teen customer. This stock closed up 4% at $37.34 on Wednesday.
Wednesday's Volume: 6.88 million
Average Volume: 290,049
Volume % Change: 2101%
Shares of FIVE trended up after the company boosted its secondary offering size to 11.3 million shares, priced at $35.65 per share.
From a technical perspective, FIVE is trending higher here and breaking out above some near-term overhead resistance at $36.36 with monster volume. This move is starting to push shares of FIVE within range of triggering another near-term breakout trade. That trade will hit if FIVE manages to take out some more near-term overhead resistance at $37.85 with high volume.