See allLatest Trade Alerts

7 Stocks Soaring on Unusual Volume

Written by: Roberto Pedone 06/08/12 - 4:16 PM EDT
Tickers in this article: CMTL SGEN OMER LMNX AMSG MPWR ONXX

Traders should look for long-biased trades off a sustained move or close above those levels with volume that's near or above 137,855 shares. If we get that action soon, then AMSG should have no problem with trading north of $30.

Omeros (OMER)

More Headlines

This is a clinical-stage biopharmaceutical company. It is engaged in discovering, developing and commercializing products focused on inflammation, bleeding and disorders of the central nervous system. This stock is trading up 9% at $11.48.

Today's Volume: 187,000
Average Volume: 151,419
Volume % Change: 144%

From a technical perspective, OMER is ripping higher here on above-average volume, and the stock has started to trigger a major breakout trade above some past overhead resistance at $10.88. This move has now pushed OMER into new 52-week high territory. Traders should continue to look for long-biased trades as long as OMER is trending above $10.88 with strong upside volume flows.

I would consider any upside volume day that registers near or above 151,419 as bullish. If we continue to see that action, then OMER has a great chance of hitting $15 in the near future. On the flipside, I would avoid any long trades if OMER cannot hold its trend over $10.88 with strong volume flows.

Onyx Pharmaceuticals (ONXX)

This is a clinical-stage biopharmaceutical company. It is engaged in discovering, developing and commercializing products focused on inflammation, bleeding and disorders of the central nervous system. This stock is trading up 7.8% at $46.97.

Today's Volume: 1,821,000
Average Volume: 1,121,300
Volume % Change: 86%

Shares of ONXX are soaring today after Bank of America (BAC) upgraded the stock from neutral to buy and increased its price target from $47 to $57.

From a technical perspective, ONXX is skyrocketing here on above-average volume. This move is quickly pushing the stock within range of triggering a major breakout trade. That trade will hit once ONXX takes out some near-term overhead resistance at $47.41 to $47.80 with high-volume.