4 Stocks Spiking 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.
Cutera (CUTR) specializes in the design, development, manufacture, marketing and servicing of laser and light-based aesthetics systems for practitioners worldwide. This stock is trading up 7.4% at $12.45 in recent trading.
Today's Volume: 251,000
Average Volume: 101,095
Volume % Change: 319%
From a technical perspective, CUTR is ripping higher here right off some near-term support at $11.34 with above-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $7.14 to its intraday high of $12.50. During that move, shares of CUTR have been mostly making higher lows and higher highs, which is bullish technical price action. That move has started to push shares of CUTR into breakout territory, since the stock has taken out some near-term overhead resistance at $12.40.