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. Perficient Perficient ( PRFT) designs, develops, implements and integrates secure and scalable enterprise portals for its clients and their customers, suppliers and partners. This stock closed up 3% at $21.51 in Wednesday's trading session. Wednesday's Volume: 312,000
Three-Month Average Volume: 196,322
Volume % Change: 85% From a technical perspective, PRFT trended higher here right above its 50-day moving average of $19.43 with above-average volume. This stock has been uptrending strong for the last five months, with shares moving higher from its low of $12.51 to its recent high of $21.90. During that uptrend, shares of PRFT have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of PRFT within range of triggering a big breakout trade. That trade will hit if PRFT manages to take out Wednesday's high of $21.60 to its 52-week high at $21.90 with high volume. Traders should now look for long-biased trades in PRFT as long as it's trending above its 50-day at $19.43 or above more support at $19.29 and then once it sustains a move or close above those breakout levels with volume that's near or above 196,322 shares. If that breakout hits soon, then PRFT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $25 to $27.
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