MADISON, Wis. ( 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.
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. >>Stocks Are Doomed. Buy More Stocks. China Petroleum & Chemical China Petroleum & Chemical ( SNP) is a petroleum and petrochemical company that explores for, develops, produces and markets crude oil and natural gas in a number of areas across China. This stock is trading up 1% at $109.60 in recent trading. Today's Volume: 212,000
Average Volume: 81,203
Volume % Change: 396% From a technical perspective, SNP is bouncing modestly higher here right off some near-term support at $108 with above-average volume. This move is quickly pushing shares of SNP within range of triggering a near-term breakout trade. That trade will hit if SNP manages to take out some near-term overhead resistance at $109.64 to $111 with high volume. Traders should now look for long-biased trades in SNP as long as it's trending above today's low of $108.43 or above $108 and then once it sustains a move or close above those breakout levels with volume that hits near or above 81,203 shares. If that breakout triggers soon, then SNP will set up to re-fill some of its recent gap down zone that started just above $114. Eni SpA Eni SpA ( E), together with its subsidiaries, offers integrated energy services. This stock is trading up 1.6% at $47.62 in recent trading.
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