3 Big Stocks Moving Up on Big 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.
Tesla Motors (TSLA) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. This stock is trading up 4.9% at $31.88 in recent trading.
Today's Volume: 1.8 million
Average Volume: 1.3 million
Volume % Change: 171%
Shares of TSLA are moving sharply higher today after Morgan Stanley upgraded the stock to an overweight rating from an underweight rating, and raised its price target to $50 from $45.
From a technical perspective, TSLA is gapping up strong here back above its 200-day moving average of $31.05 and above some near-term overhead resistance at $31.30 with above-average volume.