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 several stocks rising on unusual volume today .
HeartWave International (HTWR) develops and manufactures small implantable heart pumps, or ventricular assist devices, for the treatment of advanced heart failure. This stock is trading up 4.5% at $70.21 in recent trading.
Today's Volume: 498,000
Average Volume: 124,859
Volume % Change: 423%
Shares of HTWR are ripping higher today after Wall Street analysts said the review by the FDA of the company's blood pump raised few new issues and the device was likely to get approved.
From a technical perspective, HTWR is surging back above its 50-day moving average today on heavy volume. This move has also pushed the stock close to and above some near-term overhead resistance at $69.68 to $71.11.
Traders should now consider long-biased trades as long as HTWR is trending above both its 50-day at $68.50 and above those near-term resistance levels with strong upside volume flows. I would consider any upside volume days that are near or above 124,859 shares as strong. If we get that action, look for HTWR to re-test its recent highs of $74.89 to $77.01 in the near future. Jakks Pacific
Jakks Pacific (JAKK) is a toy company that designs, produces, markets and distributes toys and related products, pet toys, consumables and related products, electronics and related products, kids indoor and outdoor furniture, and other consumer products. This stock is trading up 2.9% at $18.00 in recent trading.
Today's Volume: 653,000
Average Volume: 160,384
Volume % Change: 377%
Shares of JAKK are soaring today after the company said it agreed to talk with Oaktree Capital Management, a company that offered to buy it last year. The company also said it would offer $80 million shares for at least $20 per share, in a tender offer starting on or near May 25.