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.>>5 Stocks Ready to Break Out This Month
Three-Month Average Volume: 408,032
Volume % Change: 476% From a technical perspective, DATA rose modestly higher here with heavy upside volume. This stock recently formed a double bottom chart pattern at $59.50 to $58.96. Following that bottom, shares of DATA have spiked sharply higher and it's now moving within range of triggering a near-term breakout trade. That trade will hit if DATA manages to take out its 50-day moving average at $68.76 to more near-term overhead resistance at $70 with high volume. Traders should now look for long-biased trades in DATA as long as it's trending above Wednesday's low of $63.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 408,032 shares. If we get that move soon, then DATA will set up to re-test or possibly take out its next major overhead resistance levels at $73.45 to its all-time high at $77.74. Pinnacle Entertainment Pinnacle Entertainment ( PNK) is an owner, operator and developer of casinos and related hospitality and entertainment facilities. This stock closed up 7% at $24.33 in Wednesday's trading session.