3 Big-Volume Stocks Poised for New 52-Week Highs

 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.

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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.

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With that in mind, let's take a look at several stocks rising on unusual volume recently.

Envision Healthcare (EVHC) provides physician-led, outsourced medical services to consumers, hospitals, health care systems, health plans and government entities in the U.S. This stock closed up 2.5% at $34.95 in Friday's trading session.

Friday's Volume: 1.98 million
Three-Month Average Volume: 849,568
Volume % Change: 173%

From a technical perspective, EVHC trended notably higher here right above some near-term support at $33.56 with above-average volume. This stock has recently formed a major bottoming chart pattern, since shares have found buying support each time it has pulled back to around $33.50 to $33. Shares of EVHC have now started to spike higher off those support levels with strong upside volume flows, and it's quickly moving within range of triggering a near-term breakout trade . That trade will hit if EVHC manages to take out its 50-day moving average of $35.12 to some more key overhead resistance levels at $35.43 to $36 with strong upside volume flows.

Traders should now look for long-biased trades in EVHC as long as it's trending above some key near-term support at $33.56 or above $33 and then once it sustains a move or close above those breakout levels with volume that's near or above 849,568 shares. If that breakout gets set off soon, then EVHC will set up to re-test or possibly take out its next major overhead resistance levels at $37.74 to its 52-week high at $38.02.

CPFL Energia (CPL), together with its subsidiaries, generates, distributes and commercializes electricity to industrial, residential, commercial, rural and other consumers in Brazil. This stock closed up 2.9% at $18.18 in Friday's trading session.

Friday's Volume: 1.53 million
Three-Month Average Volume: 376,438
Volume % Change: 259%

From a technical perspective, CPL jumped higher here right above some near-term support at $17.56 and above its 50-day moving average of $17.41 with strong upside volume flows. This stock has been basing and consolidating for the last month and change, with shares moving between just below $17 on the downside and $18.73 on the upside. This spike higher on Friday is quickly pushing shares of CPL within range of triggering a big breakout trade above the upper-end of its sideways trading chart pattern. That trade will hit if CPL manages to take out some key overhead resistance levels at $18.67 to $18.73 and then its 52-week high at $19.41 with high volume.

Traders should now look for long-biased trades in CPL as long as it's trending above its 50-day at $17.41 or above $17 and then once it sustains a move or close above those breakout levels with volume that hits near or above 376,438 shares. If that breakout gets underway soon, then CPL will set up to re-test or possibly take out its next major overhead resistance levels at $20 to $22 or even $23 to $24.

Electronics for Imaging (EFII) provides digital inkjet printers, business process automation solutions and color digital front ends. This stock closed up 4.4% to $46.41 in Friday's trading session.

Friday's Volume: 1.01 million
Three-Month Average Volume: 334,206
Volume % Change: 245%

From a technical perspective, EFII ripped sharply higher here right above some near-term support levels at $44 to $43.08 with strong upside volume flows. This stock has been uptrending strong for the last two months and change, with shares moving higher from its low of $36.62 to its recent high of $47.42. During that uptrend, shares of EFII have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of EFII within range of triggering a big breakout trade. That trade will hit if EFII manages to take out some key overhead resistance levels at $47.42 to its 52-week high at $47.75 with high volume.

Traders should now look for long-biased trades in EFII as long as it's trending above some key near-term support levels at $44 or at $43.08 and then once it sustains a move or close above those breakout levels with volume that hits near or above 334,206 shares. If that breakout kicks off soon, then EFII will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $55 to $60.

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

-- 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.

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