4 More 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.
This company manufactures and markets polymer and specialty chemical products. This stock is trading up 3.5% at $17.95 in recent trading.
Today's Volume: 742,000
Average Volume: 546,768
Volume % Change: 107%
Shares of CHMT are trending higher today after the company announced it has sold its Antioxidant and UV Stabilizers business for $200 million to SK Capital Partners.
From a technical perspective, CHMT is bouncing notably higher here right near its 50-day moving average of $16.94 with above-average volume. This move has also pushed CHMT into breakout territory, since the stock has cleared some near-term overhead resistance at $17.69. This action is now pushing CHMT into range of triggering another breakout trade. That trade will hit once CHMT clears some near-term overhead resistance at $18.44 with high volume.