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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. Many times when above-average volume moves into an equity, it precedes a large spike in volatility.
Major moves in volume can signal unusual activity, such as
insider buying or
selling -- or buying or selling by "superinvestors."
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.
Saba Software(SABA - Get Report) is a provider of learning and talent management solutions providing a set of People Cloud Applications that include enterprise learning, talent management, testing and assessment and collaboration solutions delivered through the Saba People Cloud. The stock is trading up 6.1% at $11.64 in recent trading.
Today's Volume: 755,000
Average Volume: 206,587
Volume % Change: 299%
From a technical perspective, SABA has now entered major breakout territory today with the stock solidly above some past overhead resistance at $10.62. This move has now pushed SABA into price levels not seen since 2003.
That said, the relative strength index (RSI) for SABA is now 84, which indicates a bought condition. It's probably best to let this stock work off those over bought conditions before getting long, if you're not in this stock.
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