8 Stocks Rising on Monster 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 .
Amerisafe(AMSF) is a specialty provider of workers' compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking and agriculture. This stock is trading up 2.6% at $25.82 in recent trading.
Today's Volume: 126,000
Average Volume: 63,328
Volume % Change: 259%
From a technical perspective , AMSF has started to trigger a major breakout trade today now that the stock is moving above some past overhead resistance at $25.17 with heavy volume.
Traders should continue to look for long-biased trades as long as AMSF is trending above $25.17 closing near its daily highs. If we continue to see that action, then look for AMSF to make a run at its next significant overhead resistance level of $27.75 in the near future. AMC Networks
AMC Networks (AMCX) is engaged in producing programmes and movie content. The stock is trading up 2% at $42.49 in recent trading.
Today's Volume: 667,000
Average Volume: 378,056
Volume % Change: 212%
Shares of AMCX are rising modestly today after the stock received a boost to average from below average at Caris & Company. The firm also raised its price target to $40 from $39.
From a technical perspective, AMCX is trending a bit higher today on heavy volume. This move is pushing AMCX within range of its 50-day moving average of $44.04.
Traders should only consider long biased trades once AMCX takes out its 50-day with high-volume. Look for a move and close above $44.04 with volume that's near or well above 378,056 to signal that AMCX wants to trend higher. If we get that action soon, look for AMCX to make a run at $45.47 to $46.69 in the near future.