8 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.
Let's take a look at several stocks rising on unusual volume today .
Titan Machinery (TITN) is a retail dealer of Case IH Agriculture equipment and a retail dealer of New Holland Agriculture, Case Construction and New Holland Construction equipment in the U.S. This stock is trading up 6% at $28.97 in recent trading.
Today's Volume: 330,000
Average Volume: 186,025
Volume % Change: 289%
Shares of TITN are ripping higher today after an analyst at Robert W. Baird upgraded the stock from neutral to outperform, and raised its price target to $37 from $29.
From a technical perspective, TITN is gapping higher today on above-average volume. This move has pushed the stock into breakout territory now that shares are moving above some near-term overhead resistance at $28.76 to $29.68.
Traders should continue to look for long-biased trades in TITN as long as it continues to trend above those breakout levels. If we continue to see that action, then look for TITN to hit its next significant overhead resistance levels at $30.97 to $32.03 in the very near future. Anika Therapeutics
Anika Therapeutics (ANIK) develops, manufactures and commercializes therapeutic products for tissue protection, healing and repair. The stock is trading up 5.2% at $13.89 in recent trading.
Today's Volume: 189,000
Average Volume: 69,428
Volume % Change: 406%
From a technical perspective, ANIK is ripping higher today on heavy volume . This move has triggered a near-term breakout trade now that ANIK has taken out some overhead resistance at $12.95 with volume.
Traders should continue to look for long-biased trades in ANIK as long as it's trending above $12.95 with strong upside volume flows. Also, look for ANIK to close near its daily highs today as a sign of more strength to come in the stock. If we continue to see that action, then look for ANIK to hit $15 to $17 in the near future. MagicJack VocalTec