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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.>>4 Turnaround Stocks With Major UpsideParametric SoundParametric Sound(PAMT) is a sound technology company focused on delivering directed parametric sound solutions to customers primarily in digital signage, point-of-purchase, in-store networks and related markets that benefit from sound that can be focused and controlled in specified locations. This stock is trading up 6.3% at $17.32 in recent trading.
Today's Volume: 337,000
Average Volume: 277,933
Volume % Change: 54%
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From a technical perspective, PAMT is ripping higher here with above-average volume and is showing a continuation chart pattern after the stock recently found buying interest right off its 50-day moving average of $14.33. This move is quickly pushing shares of PAMT within range of triggering a near-term breakout trade. That trade will hit if PAMT manages to take out some near-term overhead resistance at $17.96 with high volume.
Traders should now look for long-biased trades in PAMT as long as it's trending above today's low of $16.27 and then once it sustains a move or close above $17.96 with volume that hits near or above 277,933 shares. If that breakout triggers soon, then PAMT will set up to re-test or possibly take out its next major overhead resistance levels at $19 to $21. Any high-volume move above $21.99 would then push PAMT into all-time high territory, which is bullish technical price action.