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.

Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors."

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.

With that in mind, let's take a look at several stocks rising on unusual volume recently.

Gigamon

Gigamon (GIMO) designs, develops and sells products and services that provide customers with visibility and control of network traffic for enterprises and services providers in the U.S. and the rest of the Americas, Europe, the Middle East, Africa and the Asia Pacific. This stock is trading up 3.9% to $21.51 in Monday's trading session.

Monday's Volume: 296,000
Three-Month Average Volume: 313,003
Volume % Change: 97%

From a technical perspective, GIMO is trending higher here right above some near-term support levels at $20 to $19.53 with decent upside volume flows. This stock recently gapped up sharply higher from under $16 to over $19 with strong upside volume. Following that move, shares of GIMO have continued to trend higher, with the stock consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of GIMO within range of triggering a major breakout trade above some key overhead resistance. That trade will hit if GIMO manages to take out its recent high of $21.82 and then once it clears some key past overhead resistance at $22 with high volume.

Traders should now look for long-biased trades in GIMO as long as it's trending above some key near-term support levels at $20 or at $19.53 and then once it sustains a move or close above those breakout levels with volume that registers near or above 313,003 shares. If that breakout materializes soon, then GIMO will set up to re-fill some of its previous gap-down-day zone from last April that started near $26.

Altisource Residential

Altisource Residential (RESI) - Get Report focuses on acquiring, owning and managing single-family rental properties in the U.S. This stock is trading up 3.5% at $21.03 in Monday's trading session.

Monday's Volume: 604,000
Three-Month Average Volume: 730,441
Volume % Change: 77%

From a technical perspective, RESI is spiking notably higher here right above some near-term support at $20.27 with decent upside volume flows. This stock has been uptrending strong for the last month, with shares moving higher from its low of $16.38 to its recent high of $22. During that uptrend, shares of RESI have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RESI within range of triggering a big breakout trade above some key near-term overhead resistance levels. That trade will hit if RESI manages to clear its 200-day moving average of $21.99 to some past resistance at $22.79 with high volume.

Traders should now look for long-biased trades in RESI as long as it's trending above some key near-term support at $20.27 or above more support at $19.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 730,441 shares. If that breakout hits soon, then RESI will set up to re-test or possibly take out its next major overhead resistance levels at $24.50 to $26.30.

Ulta Salon, Cosmetics & Fragrance

Ulta Salon, Cosmetics & Fragrance (ULTA) - Get Report operates specialty retail stores in the U.S. This stock is trading up 1.2% at $140.33 in Monday's trading session.

Monday's Volume: 742,000
Three-Month Average Volume: 601,405
Volume % Change: 147%

From a technical perspective, ULTA is bounce modestly higher here right above some near-term support at around $135 to its 50-day moving average of $133.77 with strong upside volume flows. This stock has been uptrending very strong for the last five months, with shares moving higher from its low of $106.87 to its recent high of $143.69. During that uptrend, shares of ULTA have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ULTA within range of triggering a major breakout trade. That trade will hit if ULTA manages to take out some near-term overhead resistance at $142 and then above its 52-week high at $143.69 with high volume.

Traders should now look for long-biased trades in ULTA as long as it's trending above some near-term support levels at $135 to its 50-day at $133.77 and then once it sustains a move or close above those breakout levels with volume that hits near or above 601,405 shares. If that breakout triggers soon, then ULTA will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $150 to $155, or even $160.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.