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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 Ready to Break Out
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 Must-Own Dividend Stocks for 2013HomeAwayHomeAway(AWAY), an online marketplace for the vacation rental industry, is trading up 3.4% at $33 in recent trading.
Today's Volume: 1.27 million
Average Volume: 791,122
Volume % Change: 142%
From a technical perspective, AWAY is trending higher here and hitting a brand new 52-week high at $33.23 with heavy upside volume. This stock recently found buying interest off a near-term support level at $30, and then went on to break out above some near-term overhead resistance at $31.25 with strong volume.
Traders should now look for long-biased trades in AWAY as long as it's trending above today's low of $32.15, and then once it sustains a move or close above its 52-week high of $33.23 with volume that hits near or above 791,122 shares. If that breakout triggers soon, then AWAY will enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $35 to $37.
Spectrum BrandsSpectrum Brands(SPB - Get Report) is a consumer products company with market positions in six product categories: consumer batteries, pet supplies, electric shaving and grooming, electric personal care, portable lighting and home and garden control products. This stock is trading up 1% at $54.91 in recent trading.