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.

Zayo Group Holdings

  • Monday's Volume: 2.86 million
  • Three-Month Average Volume: 1.05 million
  • Volume % Change: 194%

Zayo Group Holdings (ZAYO) - Get Report , through its subsidiaries, provides bandwidth infrastructure solutions for the communications industry in the U.S. and Europe. This stock traded up 2.4% to $23.93 in Monday's trading session.

From a technical perspective, Zayo Group Holdings trended higher on Monday right above some near-term support at $23 a share with strong upside volume flows. This high-volume move to the upside is now quickly pushing shares of Zayo Group Holdings within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $24 to $24.45 a share with high volume.

Traders should now look for long-biased trades in Zayo Group Holdings as long as it's trending above some near-term support at $23 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.05 million shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at its 20-day moving average of $25.15 to its 50-day moving average of $25.58, or even $26 to its 200-day moving average of $26.87 a share.

Mentor Graphics

  • Monday's Volume: 5.83 million
  • Three-Month Average Volume: 1.05 million
  • Volume % Change: 430%

Mentor Graphics (MENT)  provides electronic design automation software and hardware solutions to automate the design, analysis and testing of electro-mechanical systems, electronic hardware and embedded systems software. This stock traded up 4.1% to $18.59 in Monday's trading session.

From a technical perspective, Mentor Graphics ripped sharply higher on Monday off its new 52-week low of $17.28 a share with strong upside volume flows. This stock recently gapped-down sharply from around $28 a share to under $18 a share with heavy downside volume flows. Shares of Mentor Graphics have now started to bounce higher off oversold levels, since its current relative strength index reading is 20.5. Oversold can always get more oversold, but it's also an area where a stock can experience a sharp bounce higher from. This bounce is now starting to push this stock within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out Monday's intraday high of $18.81 to its gap-down-day high of $19.75 a share with high volume.

Traders should now look for long-biased trades in Mentor Graphics as long as it's trending above its new 52-week low of $17.28 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.05 million shares. If that breakout triggers soon, then this stock will set up to re-fill some of its previous gap-down-day zone that started near $28 a share.

Buckle

  • Monday's Volume: 1.05 million
  • Three-Month Average Volume: 404,323
  • Volume % Change: 174%

Buckle (BKE) - Get Report  operates as a retailer of casual apparel, footwear and accessories for young men and women in the U.S. This stock traded up 1.8% to $31 in Monday's trading session.

From a technical perspective Buckle jumped notably higher on Monday right above some near-term support just below $30 a share with above-average volume. This stock has been downtrending badly over the last six months, with shares falling sharply lower from over $46 a share to its new 52-week low of $29.28 a share. During that downtrend, shares of the Buckle have been consistently making lower highs and lower lows, which is bearish technical price action. That said, this stock has now started to rebound off that $29.28 low and it's beginning to move within range of triggering a near-term breakout trade. That trade will hit if this stock manages to take out some near-term overhead resistance levels at $32 to its 20-day moving average of $33.10 a share with high volume.

Traders should now look for long-biased trades in Buckle as long as it's trending above around $30 a share and then once it sustains a move or close above those breakout levels with volume that registers near or above 404,323 shares. If that breakout triggers soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $34 to its 50-day moving average of $35.18, or even $36 to $37 a share.

Hibbett Sports

  • Monday's Volume: 1.88 million
  • Three-Month Average Volume: 665,112
  • Volume % Change: 165%

Hibbett Sports (HIBB) - Get Report , together with its subsidiaries, operates sporting goods retail stores in small and mid-sized markets primarily in the South, Southwest, Mid-Atlantic and the Midwest regions of the U.S. This stock traded up 2.4% to $34.11 in Monday's trading session.

From a technical perspective, Hibbett Sports trended modestly higher here back above its 20-day moving average of $32.63 with above-average volume. This stock has been uptrending strong over the last few weeks, with shares ripping higher off its low of $27.58 to its recent high of $35.88 a share. During that uptrend, shares of Hibbett Sports have been making mostly higher lows and higher highs, which is bullish technical price action. This high-volume spike to the upside on Monday is now pushing this stock within range of triggering a near-term breakout trade. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at its 50-day moving average of $34.83 a share and then once it clears more key resistance levels at $35.88 to $37.30 a share with high volume.

Traders should now look for long-biased trades in Hibbett Sports as long as it's trending above Monday's intraday low of $31.88 a share and then once it sustains a move or close above those breakout levels with volume that registers near or above 665,112 shares. If that breakout develops soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $40 to $42, or even its 200-day moving average of $43.62 a share.

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