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.>>5 Stocks Set to Soar on Bullish Earnings With that in mind, let's take a look at several stocks rising on unusual volume today. Cedar Fair Cedar Fair ( FUN) is a regional amusement park operator that owns eleven amusement parks, six outdoor water parks, one indoor water park and five hotels. This stock closed up 1.2% at $43.55 in Wednesday's trading session. Wednesday's Volume: 1.21 million
Three-Month Average Volume: 105,952
Volume % Change: 863% From a technical perspective, FUN bounced modestly higher here right above some near-term support at $42.67 and back above its 50-day moving average at $43.33 with monster upside volume. This move is quickly pushing shares of FUN within range of triggering a near-term breakout trade. That trade will hit if FUN manages to take out Wednesday's high of $44.20 to its 52-week high at $44.49 with high volume. Traders should now look for long-biased trades in FUN as long as it's trending above Wednesday's low of $42.85 or above that recent low of $42.67 and then once it sustains a move or close above those breakout levels with volume that hits near or above 105,952 shares. If that breakout hits soon, then FUN will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $50 to $53.