DELAFIELD, 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.>>4 Big Stocks on Traders' Radars With that in mind, let's take a look at several stocks rising on unusual volume today. MasTec MasTec ( MTZ), an infrastructure construction company, engages in engineering, building, installing, maintaining and upgrading energy, communication and utility infrastructure in North America. This stock closed up 1.5% at $34.57 in Friday's trading session. Friday's Volume: 1.51 million
Three-Month Average Volume: 647,990
Volume % Change: 137% >>3 Hot Stocks to Trade (or Not) From a technical perspective, MTZ trended modestly higher here right above some near-term support levels at $34 to $33.50 with strong upside volume. This move pushed shares of MTZ into new 52-week-high territory, since the stock took out some resistance at $34. This move could be setting up MTZ for a large trend higher, since the stock took out its former 52-week high with strong volume. Traders should now look for long-biased trades in MTZ as long as it's trending above some near-term support levels at $34 to $33.50 and then once it sustains a move or close above its new 52-week high at $34.86 with volume that's near or above 647,990 shares. If we get that move soon, then MTZ will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $45, or even $50.
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