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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.
Major moves in volume can signal unusual activity, such as
insider buying or
selling -- or buying or selling by "superinvestors."
>>5 Stocks Set to Soar on Bullish Earnings
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 Setting Up to Break OutDole FoodDole Food(DOLE) is a producer and marketer of fruit and vegetables, including an expanding line of value-added products. This stock is trading up 8% at $10.97 in recent trading.
Today's Volume: 3.34 million
Average Volume: 1.25 million
Volume % Change: 281%
From a technical perspective, is spiking higher here right off some near-term support at $10.50 with monster upside volume. This stock has been uptrending decent for the last month, with shares pushing higher from its low of $9.55 to its intraday high of $11. During that move, shares of DOLE have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of DOLE within range of triggering a near-term breakout trade. That trade will hit if DOLE manages to clear its 50-day moving average of $11.02 with high volume.
Traders should now look for long-biased trades in DOLE as long as it's trending above today's low of $10.50, and then once it sustains a move or close above $11.02 with volume that hits near or above 1.25 million shares. If that breakout hits soon, then DOLE will set up to re-test or possibly take out its next major overhead resistance levels at $12 to $12.32. Any high-volume move above $12.32 will then put $12.72 to $12.87 into focus for shares of DOLE.