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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 Insiders Love Right NowManitex InternationalManitex International(MNTX - Get Report) is engaged in the design, manufacture and distribution of engineered lifting solutions. This stock closed up 9.7% at $11.70 on Wednesday.
Wednesday's Volume: 447,000
Average Volume: 142,615
Volume % Change: 177%
From a technical perspective, MNTX exploded higher here and broke out above some near-term overhead resistance levels at $10.98 to $11.58 with heavy upside volume. This move is quickly pushing shares of MNTX within range of triggering another major breakout trade. That trade will hit if MNTX manages to clear its 52-week high at $11.95 with high volume.
Traders should now look for long-biased trades in MNTX as long as it's trending above some near-term resistance levels at $11.58 or $11.09 and then once it sustains a move or close above $11.95 with volume that hits near or above 142,615 shares. If that breakout triggers soon, then MNTX will enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $14 to $15.
NetSol TechnologiesNetSol Technologies(NTWK - Get Report) designs, develops, markets and exports proprietary software products to customers in the automobile finance and leasing, banking, health care and financial services industries worldwide. This stock closed up 7.3% at $12.59 on Wednesday.