8 Stocks Rising on Unusual Volume
Costco Wholesale(COST) ,with its subsidiaries, operates membership warehouses that offer its members low prices on a limited selection of branded and selected private-label products in a range of merchandise categories. This stock is trading up 1% at $90.75 in recent trading.
Today's Volume: 1.95 million
Average Volume: 2.3 million
Volume % Change: 57%.
From a technical perspective, COST is bouncing a bit here right off some near-term support at $90 with decent volume. This move is quickly pushing COST within range of triggering a major breakout trade. That trade will hit once COST takes out some near-term overhead resistance at $91.80 with high-volume. At last check, COST has hit an intraday high of $91.64 and volume is just a bit under its three-month average action of 2.3 million shares.
Traders should now look for long-biased trades if COST can sustain a move or close above $91.80 with volume that's near or above 2.3 million shares. If we get that action today or soon, then COST will enter new all-time high territory and likely tag $100 or higher very soon.
As of the most recently reported quarter, Costco was one of Warren Buffett's stocks. Portfolio Recovery Associates