WINDERMERE, Fla. ( Stockpickr) -- Professional traders running mutual funds and hedge funds don't just look at a stock's price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.
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. >>5 Stocks Poised for Breakouts Workday Workday (WDAY - Get Report) is a provider of enterprise cloud-based applications for human capital management, payroll, financial management, time tracking, procurement and employee expense management. This stock is trading up 5.6% at $60.87 in recent trading. Today's Volume: 869,000 Average Volume: 441,669 Volume % Change: 184% From a technical perspective, WDAY is ripping higher here and showing a continuation pattern above its recent breakout above $57.10 to $57.21 with above-average volume. This move has started to push shares of WDAY into all-time high territory, which is bullish technical price action. Traders should now look for long-biased trades in WDAY as long as it's trending above today's low of $57.50, and then once it sustains a move or close above its new all-time high of $61.40 with high volume. If WDAY can maintain this trend into all-time high territory, then this stock will have an excellent chance of tagging $65 or higher in the near future. Green Dot Green Dot (GDOT - Get Report) is a financial services company, together with its subsidiaries, provides money management solutions in the U.S. It offers general purpose reloadable prepaid debit cards, and cash loading and transfer services. This stock is trading up 5.2% to $14.93 in recent trading.