4 Stocks Rising on Unusual Volume

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.

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.

Opko Health

OPK ChartOPK data by YCharts

Opko Health (OPK), a biopharmaceutical and diagnostics company, engages in the discovery, development and commercialization of novel and proprietary technologies in the U.S. and internationally. This stock traded up 3.5% to $16.82 in Monday's trading session.

Monday's Volume: 10.54 million
Three-Month Average Volume: 4.09 million
Volume % Change: 213%

From a technical perspective, Opko Health jumped notably higher on Monday right off its 50-day moving average of $15.96 with strong upside volume flows. This stock has been consolidating and trending sideways over the last month or so, with shares moving between $15.13 on the downside and just over $16 on the upside.

This high-volume move to the upside on Monday has now pushed shares of Opko Health above the upper end of its recent sideways trending chart pattern.
Traders should now look for a continuation move higher in the short-term if this stock manages to take out Monday's intraday high of $16.95 to some more near-term overhead resistance at $17.32 with high volume.

Traders should look for long-biased trades in Opko Health as long as it's trending above some key near-term support at $15 and then once it sustains a move or close above $16.95 to $17.32 with volume that registers near or above 4.09 million shares. If that move gets started soon, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $19.20 a share.

Charles River Laboratories

CRL ChartCRL data by YCharts

Charles River Laboratories (CRL), an early-stage contract research company, provides drug discovery and preclinical development services worldwide. This stock traded up 0.85% to $70.13 in Monday's trading session.

Monday's Volume: 2 million
Three-Month Average Volume: 419,240
Volume % Change: 339%

From a technical perspective, Charles River Laboratories spiked modestly higher on Monday back above its 200-day moving average of $69.63 with strong upside volume flows. This stock for the time being also formed a double bottom, since shares of Charles River Laboratories found some buying interest at $68.66, which was right above its May low of $68.59 a share.

Market players should now look for a continuation move to the upside in the short-term if this stock manages to clear some key near-term overhead resistance levels at $72 to its 20-day moving average of $72.39 with high volume.

Traders should look for long-biased trades in Charles River Laboratories as long as it's trending above those double-bottom support levels and then once it sustains a move or close above $72 to $72.39 with volume that hits near or above 419,240 shares. If that move gets started soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $75 to $78, or even $80 a share.

Medicines

MDCO ChartMDCO data by YCharts

Medicines (MDCO) provides medicines for patients in acute and intensive care hospitals worldwide. This stock traded up 4.7% to $32.76 in Monday's trading session.

Monday's Volume: 2.98 million
Three-Month Average Volume: 1.15 million
Volume % Change: 185%

From a technical perspective, Medicines ripped to the upside on Monday with strong upside volume flows. This stock recently formed a major bottoming chart pattern, after shares of Medicines found some buying interest right around some previous support levels at $25.27 to $25.40 a share. Since buyers stepped in at $25.38, this stock has ripped higher with a number of high-volume trading days and it's cleared all of its key moving averages. That move is now quickly pushing shares of Medicines within range of triggering a near-term breakout trade. That trade will hit if this stock manages to take out its 52-week high of $33.64 with high volume.

Traders should now look for long-biased trades in Medicines as long as its trending above some near-term support levels at around $31 or above its 20-day at $29.37 and then once it sustains a move or close above its 52-week high of $33.64 with volume that hits near or above 1.15 million shares. If that breakout materializes soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $38 to $40 a share.

Bio-Techne

TECH ChartTECH data by YCharts

Bio-Techne (TECH) develops, manufactures and sells biotechnology products and clinical diagnostic controls worldwide. This stock traded up 1.3% to $97.88 in Monday's trading session.

Monday's Volume: 695,000
Three-Month Average Volume: 171,981
Volume % Change: 352%

From a technical perspective, Bio-Techne ripped higher on Monday right above some key near-term support at $95.66 with strong upside volume flows. This stock recently formed a double bottom chart pattern, after shares of Bio-Techne found buying interest over the last two months at $95.06 to $95.66 a share. That bottom has also for now held right above this stock's 200-day moving average. Traders should now look for a continuation move to the upside in the short-term if Bio-Techne manages to clear Monday's high of $98.04 to its 50-day moving average of $99.46 with high volume.

Traders should now look for long-biased trades in Bio-Techne as long as it's trending above those double bottom support levels or above its 200-day moving average of $94.97 and then once it sustains a move or close above $98.04 to its 50-day at $99.46 with volume that hits near or above 171,981 shares. If that move gets started soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $101.39 to $103.50 a share.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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