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.
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.
GasLog (GLOG), together with its subsidiaries, owns, operates and manages vessels in the liquefied natural gas market worldwide. This stock closed up 2.5% to $25.53 in Friday's trading session.
Friday's Volume: 5.39 million
Three-Month Average Volume: 1.06 million
Volume % Change: 612%
From a technical perspective, GLOG spiked notably higher here and broke out into new all-time-high territory with monster upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $14 to its intraday high of $26.72. During that uptrend, shares of GLOG have been consistently making higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if GLOG manages to take out Friday's high of $26.72 with strong volume.
Traders should now look for long-biased trades in GLOG as long as it's trending above support at $24 or above its 50-day at $22.60 and then once it sustains a move or close above $26.72 with volume that hits near or above 1.06 million shares. If that move materializes soon, the GLOG will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that move are $30 to $35.