Professional traders running mutual funds and hedge funds don't just look at a stock's price moves, they track big changes in volume activity. Often, when above-average volume moves into a stock, 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." These types of traders like to get in well before a bigger trend, so it's always a smart move to monitor unusual volume activity.

With that in mind, let's take a look at several stocks that are experiencing unusual volume activity.

Clovis Oncology

  • Tuesday's Volume: 5.84 million
  • Three-Month Average Volume: 2.38 million
  • Volume % Change: 161%

From a technical perspective, Clovis Oncology (CLVS - Get Report) ripped sharply higher on Tuesday and broke out into new 52-week-high territory with strong volume. Market players should now look for a continuation move higher in the short-term if this stock continues to show momentum to the upside.

Traders should now look for long-biased trades in Clovis Oncology as long as it's trending above its previous breakout level at $62.29, and then once it sustains a move or close above Tuesday's intraday high of $68.58 with volume that hits near or above 2.38 million shares. If that move gets underway soon, then this stock will set up to refill some of its previous gap-down-day zone from November of 2015 that started near $100 a share.

Air Methods

  • Tuesday's Volume: 8.51 million
  • Three-Month Average Volume: 520,113
  • Volume % Change: 1496%

From a technical perspective, Air Methods (AIRM) gapped-up notably higher on Tuesday with monster upside volume flows. This stock has been in a strong uptrend over the last five months, with shares moving higher off its low of $23.75 to its intraday high on Tuesday of $43.05. That strong uptrend has now pushed shares of Air Methods within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in Air Methods as long as it's trending above support at $40.85 or above its 20-day at $40.10 and then once it sustains a move or close above its 52-week high of $43.95 with volume that hits near or above 520,113 shares. If that breakout hits soon, then this stock will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $46 to $49, or even $50 a share.

Orthofix International

  • Tuesday's Volume: 840,000
  • Three-Month Average Volume: 187,383
  • Volume % Change: 451%

From a technical perspective, Orthofix International (OFIX - Get Report) gapped-up sharply higher on Tuesday back above both its 50-day at $36.41 and its 20-day at $36.54 with huge upside volume. This high-volume rip to the upside is now quickly pushing this stock within range of triggering a major breakout trade.

Traders should now look for long-biased trades in Orthofix International as long as it's trending above its 50-day at $36.41, and then once it sustains a move or close above some near-term resistance levels at $38.48 to $38.77 and then above more resistance at $39.95 with volume that hits near or above 187,383 shares. If that breakout fires off soon, then this stock will set up to re-test or possibly take out its next resistance levels at its 200-day of $40.49 to $41.90, or even $44 to $45 a share.

MakeMy Trip

  • Tuesday's Volume: 1.21 million
  • Three-Month Average Volume: 414,279
  • Volume % Change: 180%

From a technical perspective, MakeMy Trip (MMYT - Get Report) jumped higher on Tuesday back above its 20-day at $32.38 with strong upside volume. This high-volume move is now quickly pushing shares of MakeMy Trip within range of triggering a near-term breakout trade.

Traders should now look for long-biased trades in MakeMy Trip as long as it's trending above its 20-day at $32.38 or above its 50-day at $31.08 and then once it breaks out above near-term resistance levels at $34 to $34.80 with volume that hits near or above 414,279 shares. If that breakout hits 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 $36.65 a share.

Momo Inc.

  • Tuesday's Volume: 7.82 million
  • Three-Month Average Volume: 2.85 million
  • Volume % Change: 162%

From a technical perspective, Momo  (MOMO - Get Report) spiked up big on Tuesday right above some near-term support levels at $30 to $29 with large upside volume. This high-volume jump higher is now quickly pushing this stock within range of triggering a big breakout trade.

Traders should now look for long-biased trades in Momo as long as it's trending above support levels at $31 or at $29 and then once it sustains a move or close above its all-time high of $34.35 with volume that hits near or above 2.85 million shares. If that breakout develops soon, then this stock will set up to enter new all-time-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $45 a share.

Analog Devices

  • Tuesday's Volume: 4.88 million
  • Three-Month Average Volume: 2.56 million
  • Volume % Change: 80%

From a technical perspective, Analog Devices (ADI - Get Report) trended up modestly on Tuesday right off its 20-day moving average of $82.36 with strong upside volume. This high-volume bump to the upside is now quickly pushing this stock within range of triggering a near-term breakout trade.

Traders should look for long-biased trades in Analog Devices as long as it's trending above its 20-day at $82.36 or above more near-term support at $81, and then once it sustains a move or close above its 52-week high of $84.24 with volume near or above 2.56 million shares. If that breakout hits soon, then this stock will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $90 to $95 a share.

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