4 Notables 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.
This is a biopharmaceutical company engaged in the discovery, development and commercialization of innovative therapies designed to treat cancer and immune-inflammatory related diseases. This stock is trading up 5.7% at $75.70 in recent trading.
Today's Volume: 5.69 million
Average Volume: 2.42 million
Volume % Change: 315%
Shares of CELG are soaring today after a late-stage clinical trial showed its drug Abraxane improved survival in patients with pancreatic cancer.
From a technical perspective, CELG is gapping up sharply higher here back above its 50-day moving average of $75.69 with above-average volume. This move is quickly pushing CELG within range of triggering a near-term breakout trade. That trade will hit once CELG takes out some near-term overhead resistance levels at $79.75 to $81.24 with high volume.