3 Tech Stocks Rising on Unusual 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.
Telephone and Data Systems
Telephone and Data Systems (TDS) is a diversified telecommunications service company with wireless operations. This stock is trading up 4.9% at $23.48 in recent trading.
Today's Volume: 854,000
Average Volume: 600,316
Volume % Change: 101%
From a technical perspective, TDS is spiking significantly higher here right above some near-term support at $21.68 with above-average volume. This move has started to push shares of TDS back above both its 50-day at $22.76 and its 200-day at $23.17. Shares of TDS are now quickly moving within range of triggering a major breakout trade. That trade will hit if TDS manages to take out some near-term overhead resistance levels at $23.69 to $23.73 and then once it clears more resistance at $24 with high volume.