8 Stocks Rising on Monster 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 a number of stocks rising on unusual volume today .
ChipMOS Technologies (IMOS) is a provider of semiconductor testing and assembly services. The stock is trading up 3.1% at $16.96 in recent trading.
Today's Volume: 1 million
Average Volume: 182,741
Volume % Change: 728%
From a technical perspective, IMOS is trading within range of triggering another big breakout. This stock has been breaking out on huge volume for the past couple of weeks. Now, the next big breakout will trigger once today's high of $17.88 is taken out with volume.
Look for a sustained high-volume move and close above that level that registers near or above 182,741 shares. If we get that action soon, then look for IMOS to tag $20 very quickly.
I also featured ChipMOS in Wednesday's " 7 Stocks Rising on Unusual Volume ." Chemical Financial
Chemical Financial (CHFC) is a financial holding company. Chemical Financial, through its subsidiary bank, Chemical Bank, offers a range of traditional banking and fiduciary products and services. The stock is trading up 4% at $23.36 in recent trading.
Today's Volume: 117,000
Average Volume: 58,430
Volume % Change: 215%
From a technical perspective, CHFC is spiking nicely today on above average volume. This move has now pushed CHFC within range of a number or key technical breakout levels.
Traders should watch for the next big breakout to trigger once CHFC takes out some near-term overhead resistance at $23.78 to $24.11 with high volume. Look for volume on that move that's near or well above 58,430 shares. Northwest Pipe Company