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.>>5 Stocks Insiders Love Right Now 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. >>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. Media General Media General ( MEG) is a provider of news, information and entertainment across 18 network-affiliated broadcast television stations and their associated digital media and mobile platforms. This stock closed up 2.6% at $20.64 in Wednesday's trading session. Wednesday's Volume: 488,000
Three-Month Average Volume: 206,347
Volume % Change: 115% From a technical perspective, MEG trended higher here with above-average volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $12.61 to its recent high of $20.84. During that uptrend, shares of MEG have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of MEG within range of triggering a near-term breakout trade. That trade will hit if MEG manages to take out its 52-week high at $20.84 with high volume. Traders should now look for long-biased trades in MEG as long as it's trending above some near-term support at $19 or at $18 and then once it sustains a move or close above $20.84 with volume that this near or above 206,347 shares. If that breakout hits soon, then MEG will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $24 to $25.