5 Stocks Rising on Unusual Volume

MADISON, 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."

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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 today.

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iRobot

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iRobot ( IRBT) develops robotics and artificial intelligence technologies and applies these technologies in producing and marketing robots. This stock closed up 1.7% at $38 on Friday.

Friday's Volume: 4.38 million
Average Volume: 524,091
Volume % Change: 747%

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From a technical perspective, IRBT trended modestly higher right above some near-term support at $36.10 with heavy upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $18.25 to its recent high of $38.89. During that uptrend, shares of IRBT have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of IRBT within range of triggering a near-term breakout trade. That trade will hit if IRBT manages to take out its 52-week high at $38.89 with high volume.

Traders should now look for long-biased trades in IRBT as long as it's trending above some key near-term support $36.10 and then once it sustains a move or close above $38.89 with volume that hits near or above 524,091 shares. If that breakout triggers soon, then IRBT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $45 to $50, or even $55.

Envestnet

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Envestnet ( ENV) provides integrated wealth management software and services to financial advisors and institutions in the U.S. This stock closed up 4% at $24.07 on Friday.

Friday's Volume: 480,000
Average Volume: 174,528
Volume % Change: 211%

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From a technical perspective, ENV popped higher here right above some near-term support at $22.30 with above-average volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $13.15 to its recent high of $25.93. During that move, shares of ENV have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of ENV within range of triggering a near-term breakout trade. That trade will hit if ENV manages to take out its 52-week high at $25.93 with high volume.

Traders should now look for long-biased trades in ENV as long as it's trending above some key near-term support at $23 or above $22.30 and then once it sustains a move or close above its 52-week high at $25.93 with volume that hits near or above 174,528 shares. If that breakout triggers soon, then ENV will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $30 to $33.

Carter's

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Carter's ( CRI) is a branded marketer in the U.S. of apparel exclusively for babies and young children. This stock closed up 1.9% at $73.15 on Friday.

Friday's Volume: 1.74 million
Average Volume: 802,909
Volume % Change: 124%

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From a technical perspective, CRI trended higher here right above some key near-term support levels at $70 to $69 with above-average volume. This stock has been uptrending strong for the last three months and change, with shares soaring higher from its low of $56.01 to its recent high of $74. During that move, shares of CRI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CRI within range of triggering a near-term breakout trade. That trade will hit if CRI manages to take out its 52-week high at $74 with high volume.

Traders should now look for long-biased trades in CRI as long as it's trending above Friday's low of $71.37 or above $69 and then once it sustains a move or close above its 52-week high at $74 with volume that hits near or above 802,909 shares. If that breakout triggers soon, then CRI 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.

Columbia Banking System

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Columbia Banking System ( COLB) provides a range of banking services to small and medium-sized businesses, professionals and other individuals. This stock closed up 2.5% at $22.54 on Friday.

Friday's Volume: 953,000
Average Volume: 319,627
Volume % Change: 300%

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From a technical perspective, COLB trended higher here right above its 50-day moving average of $21.53 with heavy upside volume. This move has started to push shares of COLB into breakout and new 52-week-high territory, since the stock closed above some previous resistance at $22.41.

Traders should now look for long-biased trades in COLB as long as it's trending above some key near-term support at $22, and then once it sustains a move or close above its 52-week high of $22.55 with volume that this near or above 319,627 shares. If we get that move soon, then COLB will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $28 to $30.

TC PipeLines

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TC PipeLines ( TCP) owns and participates in the management of energy infrastructure businesses in North America. This stock closed up 4.6% at $45.84 on Friday.

Friday's Volume: 1.16 million
Average Volume: 282,747
Volume % Change: 407%

From a technical perspective, TCP ripped higher here right off its 200-day moving average at $43.47 and back above its 50-day moving average at $45.28 with heavy upside volume. This move is quickly pushing shares of TCP within range of triggering a near-term breakout trade. That trade will hit if TCP manages to clear some near-term overhead resistance levels at $46.25 to $46.72 with high volume.

Traders should now look for long-biased trades in TCP as long as it's trending above $45 or above $44 and then once it sustains a move or close above those breakout levels with volume that's near or above 282,747 shares. If that breakout triggers soon, then TCP will set up to re-test or possibly take out its next major overhead resistance levels at $49.06 to $49.41. Any high-volume move above those levels will then give TCP a chance to trend north of $50.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Madison, Wis.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Madison, 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.

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