5 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.
>>5 Stocks Under $10 Set to Soar Uni-Pixel
Uni-Pixel (UNXL) is a development stage company that has developed, patented and demonstrated a new color display technology in the form of proof of concept prototypes, which it calls Time Multiplexed Optical Shutter. This is trading up 15.9% at $15.90 in recent trading.
Today's Volume: 1.01 million
Average Volume: 272,666
Volume % Change: 524%
From a technical perspective, UNXL is ripping higher here right above some near-term support at $13.35 with monster upside volume. This move has started to push UNXL into breakout territory, since the stock has started to challenge some previous overhead resistance levels at $15.74 to $16.33. At last check, shares of UNXL have hit an intraday high of $16.77 and volume is well above its three-month average action of 272,666 shares.
Traders should now look for long-biased trades in UNXL as long as it's trending above today's low of $14.24, and then once it sustains a move or close above $15.74 to $16.77 with volume that hits near or above 272,666 shares. If UNXL can maintain that trend, then this stock has a solid chance of hitting $20 or higher in the near future. Rovi
Rovi (ROVI) focuses on powering the discovery and enjoyment of digital entertainment by providing a broad set of integrated solutions. This stock is trading up 5.8% at $16.78 in recent trading.
Today's Volume: 2.20 million
Average Volume: 969,433
Volume % Change: 351%
Shares of ROVI are ripping higher today after the company said it would look to sell its Rovi Entertainment Store business.