4 Stocks Ripping Higher 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.
Constant Contact (CTCT)
This company is a provider of on-demand email marketing and online survey solutions for small organizations, including small businesses, associations and non-profits. This stock is trading up 5.6 % at $14.88 in recent trading.
Today's Volume: 565,000
Average Volume: 553,702
Volume % Change: 159%
From a technical perspective, CTCT is bouncing higher here right above its 50-day moving average of $13.38 with above-average volume. This stock has been uptrending strongly for the last two months and change, with shares soaring from its low of $11.50 to its recent high of $15.28. During that move, shares of CTCT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed CTCT within range of triggering a major breakout trade. That trade will hit if CTCT manages to clear some near-term overhead resistance levels at $14.87 to $15.28 with high volume.