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.Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors."
Average Volume: 699,002
Volume % Change: 639% Shares of SFLY are ripping higher here after the company announced the pricing of a $270 million convertible senior note offering. >>5 Stocks Poised to Break Out From a technical perspective, SFLY is trending higher here with heavy upside volume. This move is quickly pushing shares of SFLY within range of triggering a major breakout trade, which will hit if SFY manages to take out some near-term overhead resistance at $49 with high volume. At last check, SFLY has hit an intraday high of $49.52, and volume is well above its three-month average action of 699,002 shares. Traders should now look for long-biased trades in SFLY as long as it's trending above $48 and then once it sustains a move or close above $49 to $49.53 with volume that hits near or above 699,002 shares. If SFLY can maintain this move, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $55 to $60.