Stock Quotes in this Article: CHE, GIVN, SIRO

MADISON, 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."

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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 today.

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Given Imaging

Given Imaging (GIVN) develops, manufactures and markets diagnostic products for the visualization and detection of disorders of the gastrointestinal tract. This stock closed up 6.4% at $16.39 on Monday.

Monday's Volume: 500,000

Average Volume: 57,284

Volume % Change: 509%

Shares of GIVN trended higher on Monday following presentations at Digestive Disease Week, which advocated for the company's SmartPill for the evaluation and diagnosis of different motility conditions.

From a technical perspective, GIVN spiked sharply higher here back above both its 50-day and 200-day moving averages with heavy upside volume. This move is quickly pushing shares of GIVN within range of triggering a major breakout trade. That trade will hit if GIVN manages to clear Monday's intraday high of $16.89 and then once it takes out some past overhead resistance at $16.94 with high volume.

Traders should now look for long-biased trades in GIVN as long as it's trending above Monday's low of $16.03 and then once it sustains a move or close above those breakout levels with volume that hits near or above 57,284 hares. If that breakout triggers soon, then GIVN will set up to re-fill more of that previous gap down zone from January that started just above $18.

Chemed

Chemed (CHE) operates in the health care and repair and maintenance fields in the U.S. This stock closed up 0.22% at $68.33 on Monday.

Monday's Volume: 578,000

Average Volume: 268,197

Volume % Change: 130%

From a technical perspective, CHE bounced modestly higher here with above-average volume. This stock has been uptrending strong for the last few weeks, with shares moving higher from its low of $61.68 to its intraday high of $69.02. During that move, shares of CHE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CHE within range of triggering a major breakout trade. That trade will hit if CHE manages to take out some near-term overhead resistance at $69.07 and then once it clears its 200-day moving average at $71.24 with high volume.

Traders should now look for long-biased trades in CHE as long as it's trending above Monday's low of $67.49 and then once it sustains a move or close above those breakout levels with volume that hits near or above 268,197 shares. If that breakout triggers soon, then CHE will set up to re-fill some of its previous gap down zone from earlier this month that started at $82. Some possible upside targets if CHE gets into that gap with volume are $74 to its 50-day moving average at $76.

Sirona Dental Systems

Sirona Dental Systems (SIRO) is a manufacturer of high-quality, technologically advanced dental equipment and is focused on developing, manufacturing and marketing innovative solutions for dentists around the world. This stock closed up 0.84% to $69.58 on Monday.

Monday's Volume: 740,000

Average Volume: 296,678

Volume % Change: 147%

From a technical perspective, SIRO trended higher here right above some near-term support at $67.93 with above-average volume. This stock has been downtrending badly for the last few weeks, with shares dropping from its 52-week high at $75.81 to its recent low of $67.93. During that move, shares of SIRO have been consistently making lower highs and lower lows, which is bearish technical price action. That said, SIRO saw a stop of its downside volatility on Monday and shares could now be ready to trigger a near-term breakout trade. That trade will hit if SIRO manages to take out some near-term overhead resistance levels at $70 to $70.50 with high volume.

Traders should now look for long-biased trades in SIRO as long as it's trending above Monday's low of $68.76 and then once it sustains a move or close above those breakout levels with volume that hits near or above 296,678 shares. If that breakout triggers soon, then SIRO will set up to re-test or possibly take out its next major overhead resistance level at its 50-day moving average of $72.37. Any high-volume move above $72.37 will then put $73 to $74 into range for shares of SIRO.

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

-- Written by Roberto Pedone in Madison, Wis.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Madison, 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.