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 Insiders Love Right Now With that in mind, let's take a look at several stocks rising on unusual volume today. Range Resources Range Resources ( RRC) is an independent natural gas company engaged in the exploration, development and acquisition of primarily gas properties, mostly in the Southwestern and Appalachian regions of the U.S. This stock closed up 3.7% at $77.40 in Wednesday's trading session. Wednesday's Volume: 5.72 million
Three-Month Average Volume: 1.38 million
Volume % Change: 278% From a technical perspective, RRC spiked higher here back above both its 200-day at $76.27 and its 50-day at $76.96 with above-average volume. This stock recently formed a double bottom chart pattern at $72.54 to $72.69. Following that bottom, shares of RRC have now started to trend higher and move within range of triggering a big breakout trade. That trade will hit if RRC manages to take out Wednesday's high of $79.45 and some more near-term overhead resistance at $81.42 with high volume. Traders should now look for long-biased trades in RRC as long as it's trending above its 200-day at $76.27 or above Wednesday's low of $75.72 and then once it sustains a move or close above those breakout levels with volume that this near or above 1.38 million shares. If that breakout hits soon, then RRC will set up to re-test or possibly take out its 52-week high at $85.23. Any high-volume move above that level will then give RRC a chance to tag $90.
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