8 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.
Beytex Energy (BTE)
This company's operations and expertise are currently focused on oil and gas production and development in the Western Canadian Sedimentary Basin and the U.S. This stock is trading up 1.8% at $44.99 in recent trading.
Today's Volume: 332,000
Average Volume: 164,552
Volume % Change: 325%
From a technical perspective, BTE is trending up here right below both its 50-day at $45.92 and its 200-day at $46.12 with above-average volume. This move is quickly pushing BTE within range of triggering a near-term breakout trade. That trade will hit once BTE clears some near-term overhead resistance at $45.97 and once it takes out its 200-day at $46.12 with high volume.