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. McGraw Hill Financial McGraw Hill Financial ( MHFI) is a financial information and education company. This stock closed up 0.7% at $73.94 in Wednesday's trading session. Wednesday's Volume: 2.47 million
Three-Month Average Volume: 1.14 million
Volume % Change: 110% From a technical perspective, MHFI spiked modestly higher here with above-average volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $52.23 to its recent high of $75.85. During that uptrend, shares of MHFI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MHFI within range of triggering a near-term breakout trade. That trade will hit if MHFI manages to take out Wednesday's high of $74.90 to its 52-week high at $75.85 with high volume. Traders should now look for long-biased trades in MHFI as long as it's trending above $72 or above its 50-day at $69.98 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.14 million shares. If that breakout hits soon, then MHFI will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $80 to $83.