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 Rocket Stocks to Buy This Week With that in mind, let's take a look at several stocks rising on unusual volume today. Clearfield Clearfield ( CLFD) is a manufacturer of various standard and custom passive connectivity products to customers throughout the U.S. This stock closed up 5.8% at $17.56 in Wednesday's trading session. Wednesday's Volume: 321,000
Three-Month Average Volume: 93,755
Volume % Change: 195% >>5 Stocks Set to Soar on Bullish Earnings From a technical perspective, CLFD ripped higher here and broke out above its former 52-week high at $17.12 with strong upside volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $10.18 to its intraday high of $17.70. During that uptrend, shares of CLFD have been consistently making higher lows and higher highs, which is bullish technical price action. Traders should now look for long-biased trades in CLFD as long as it's trending above Wednesday's low of $16.48 or above $15.50 and then once it sustains a move or close above its new 52-week high at $17.70 volume that this near or above 93,755 shares. If we get that move soon, then CLFD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $23 to $25.