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.

Owens Corning

Owens Corning (OC) - Get Owens Corning Report , together with its subsidiaries, produces and sells glass fiber reinforcements and other materials for composite systems as well as residential and commercial building materials worldwide. This stock is trading up 4% to $39.24 in Monday's trading session.

Monday's Volume: 1.11 million
Three-Month Average Volume: 1.35 million
Volume % Change: 147%

From a technical perspective, OC is jumping sharply higher here right above some near-term support at $27 with strong upside volume flows. This stock has been uptrending for the last month and change, with shares moving higher from its low of $32.52 to its recent high of $40.42. During that uptrend, shares of OC have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of OC within range of triggering a near-term breakout trade. That trade will hit if OC manages to take out some key near-term overhead resistance at $40.42 with high volume.

Traders should now look for long-biased trades in OC as long as it's trending above some key near-term support at $37 or above its 200-day moving average at $36.08 and then once it sustains a move or close above $40.42 with volume that registers near or above 1.35 million shares. If that breakout triggers soon, then OC will set up to re-test or possibly take out its next major overhead resistance levels at $43 to $43.30, or even its 52-week high at $46.64.

Comtech Telecommunications

Comtech Telecommunications (CMTL) - Get Comtech Telecommunications Corp. Report designs, develops, produces and markets products, systems and services for communications solutions in the U.S and internationally. This stock is trading up 1.5% to $34 in Monday's trading session.

Monday's Volume: 88,000
Three-Month Average Volume: 121,218
Volume % Change: 50%

From a technical perspective, CMTL is trending modestly higher here with decent upside volume flows. This stock has been uptrending a bit over the last month and change, with shares moving higher from its low of $29.75 to its recent high of $34.90. During that uptrend, shares of CMTL have been making mostly higher lows and higher highs, which is bullish technical price action. That uptrend is coming after shares of CMTL crashed lower from its last December high of $40.33 to that $29.75 low. Shares of CMTL hare now quickly moving within range of triggering a near-term breakout trade. That trade will trigger if CMTL manage to clear some key near-term overhead resistance levels at its 50-day moving average of $34.61 and its 200-day moving average of $34.75 and then above more resistance at $34.90 with high volume.

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Traders should now look for long-biased trades in CMTL as long as it's trending above some key near-term support levels at $32 or at $31.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 121,218 shares. If that breakout hits soon, then CMTL will set up to re-test or possibly take out its next major overhead resistance levels at $38 to $40.

Altisource Portfolio Solutions

Altisource Portfolio Solutions (ASPS) - Get Altisource Portfolio Solutions S.A. Report operates as a marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries in the U.S. This stock is trading up 7.3% at $22.85 in Monday's trading session.

Monday's Volume: 906,000
Three-Month Average Volume: 752,677
Volume % Change: 170%

From a technical perspective, ASPS is ripping higher here right above some near-term support at $20.33 with strong upside volume flows. This strong move to the upside here is now quickly pushing shares of ASPS within range of triggering a near-term breakout trade. That trade will hit if ASPS manage to take out some key near-term overhead resistance at $26.74 with high volume.

Traders should now look for long-biased trades in ASPS as long as it's trending above some key near-term support at $20.33 and then once it sustains a move or close above $26.74 with volume that hits near or above 752,677 shares. If that breakout materializes soon, then ASPS will set up to re-test or possibly take out its next major overhead resistance levels $32.88 to $35.25.

Axis Capital Holdings

Axis Capital Holdings (AXS) - Get Axis Capital Holdings Limited Report provides specialty lines insurance and treaty reinsurance products worldwide. This stock is trading up 5.4% to $52.04 in Monday's trading session.

Monday's Volume: 981,000
Three-Month Average Volume: 563,371
Volume % Change: 416%

From a technical perspective, AXS is ripping higher here and gapping up back above its 50-day moving average of $49.81 with strong heavy upside volume flows. This sharp move to the upside on Monday has now pushed shares of AXS into breakout territory, since this stock has cleared or is flirting with some key near-term overhead resistance levels at $50.89 to $52.03. Traders should now look for a continuation move to the upside in the short-term if AXS manages to take out Monday's intraday high of $52.10 with high volume.

Traders should now look for long-biased trades in AXS as long as it's trending above Monday's intraday low of $50.17 or above its 50-day moving average of $49.81 and then once it sustains a move or close above Monday's intraday high of $52.10 with volume that hits near or above 563,371 shares. If that move gets underway soon, then AXS will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $52.21. Any high-volume move or close above that level will then give AXS a chance to trend towards $55 to $60.

-- Written by Roberto Pedone in Delafield, Wis.

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At the time of publication, author had no positions in stocks mentioned. Roberto Pedone, based out of Delafield, Wis., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.