3 Stocks Soaring 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.
CAI International (CAP)
This is an intermodal freight container leasing and management company, which operates its business through two segments: container leasing and container management. This stock is trading up 5.2% at $21.19 in recent trading.
Today's Volume: 847,000
Average Volume: 148,040
Volume % Change: 1195%
From a technical perspective, CAP is ripping higher here right off its 200-day moving average of $20.04 with heavy upside volume. This move is quickly pushing CAP within range of triggering a near-term breakout trade. That trade will hit once CAP takes out some near-term overhead resistance at its 50-day of $21.26 and then more overhead resistance at $22 with high volume.