3 Stocks Rising 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.
Roadrunner Transportation (RRTS) is a non-asset-based transportation and logistics services provider. This stock is trading up 2.3% at $20.01 in recent trading.
Today's Volume: 184,000
Average Volume: 109,113
Volume % Change: 239%
Shares of RRTS are moving higher today in front of the company's earnings report set for tonight after the market close.
From a technical perspective, RRTS is spiking higher here right above some near-term support at $18.84 with above-average volume. This stock has been uptrending strong for the last two months, with shares moving higher from its low of $16.31 to its recent high of $20.52.
During that move, shares of RRTS have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RRTS within range of triggering a breakout trade post-earnings. That breakout will hit if RRTS manages to take out some near-term overhead resistance at $20.52 with high volume.