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 Big Stocks to Trade for Big Gains With that in mind, let's take a look at several stocks rising on unusual volume today. Phoenix New Media Phoenix New Media ( FENG) is a new media company providing premium content on an integrated platform across Internet, mobile and TV channels in China. This stock closed up 13.9% to $10.36 in Friday's trading session. Friday's Volume: 3.81 million
Three-Month Average Volume: 1.13 million
Volume % Change: 331% >>5 Stocks With Big Insider Buying From a technical perspective, FENG ripped sharply higher here and broke out above some near-term overhead resistance at $10.35 with heavy upside volume. This stock has been uptrending modestly for the last month, with shares moving higher from its low of $8.08 to its intraday high of $10.38. During that move, shares of FENG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FENG within range of triggering a near-term breakout trade. That trade will hit if FENG manages to take out Friday's high of $10.38 and its 50-day moving average of $10.94 with high volume. Traders should now look for long-biased trades in FENG as long as it's trending above Friday's low of $9.65 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.13 million shares. If that breakout hits soon, then FENG will set up to re-test or possibly take out its next major overhead resistance levels at $12.50 to its 52-week high at $13.38.