3 Tech Stocks Spiking on Unusual Volume
First Solar
http://www.thestreet.com/story/11838409/2/3-tech-stocks-spiking-on-unusual-volume.html
First Solar (FSLR_) designs, manufactures and sells solar electric power modules using a proprietary thin film semiconductor technology. This stock is trading up 5.8% at $32.16 in recent trading.
Today's Volume: 4.60 million
Average Volume: 4.19 million
Volume % Change: 58%
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From a technical perspective, FSLR is ripping higher here right off its 50-day moving average of $30.62 with above-average volume. This move is quickly pushing shares of FSLR within range of triggering a near-term breakout trade. That trade will hit if FSLR manages to take out some near-term overhead resistance levels at $31.99 to $32.65 with high volume. At last check, FSLR has hit an intraday high of $32.47 and volume is above its three-month average action of 4.19 million shares.
Traders should now look for long-biased trades in FSLR as long as it's trending above its 50-day at $30.62, and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.19 million shares. If that breakout triggers soon, then FSLR will set up to re-test or possibly take out its next major overhead resistance level at $35.60.
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