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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."
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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 Under $10 Set to ExplodeCuteraCutera(CUTR - Get Report) specializes in the design, development, manufacture, marketing and servicing of laser and light-based aesthetics systems for practitioners worldwide. This stock is trading up 7.4% at $12.45 in recent trading.
Today's Volume: 251,000
Average Volume: 101,095
Volume % Change: 319%
From a technical perspective, CUTR is ripping higher here right off some near-term support at $11.34 with above-average volume. This stock has been uptrending strong for the last three months, with shares soaring higher from its low of $7.14 to its intraday high of $12.50. During that move, shares of CUTR have been mostly making higher lows and higher highs, which is bullish technical price action. That move has started to push shares of CUTR into breakout territory, since the stock has taken out some near-term overhead resistance at $12.40.
Traders should now look for long-biased trades in CUTR as long as it's trending above $11.34, and then once it sustains a move or close above $12.40 to $12.50 with volume that hits near or above 101,095 shares. If that breakout triggers soon, then CUTR will set up to enter new 52-week-high territory above $12.50, which is bullish technical price action. Some possible upside targets off that move are $14 to $15 in the near future.