Stock Quotes in this Article: BOBE, CYTK, MATX

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 today.

Bob Evans Farms

Bob Evans Farms (BOBE) is a full-service restaurant company that operates Bob Evans Restaurants. It is also a producer and distributor of pork sausage product and complementary home-style refrigerated side dishes and frozen food items. This stock closed up 1.8% to $47.86 on Monday.

Monday's Volume: 487,000

Average Volume: 156,091

Volume % Change: 211%

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From a technical perspective, BOBE trended higher here right off some near-term support at $47 with above-average volume. This stock has been uptrending for the last few weeks, with shares moving higher from its low of $44.85 to its intraday high of $47.98. During that move, shares of BOBE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed BOBE within range of triggering a near-term breakout trade. That trade will hit if BOBE manages to take out its 52-week high at $48.47 with high volume.

Traders should now look for long-biased trades in BOBE as long as it's trending above some key near-term support levels at $47 or above $46, and then once it sustains a move or close above its 52-week high at $48.47 with volume that hits near or above 156,091 shares. If that breakout hits soon, then BOBE will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $55 to $58.

Matson

Matson (MATX) provides multimodal transportation services to the North American market, including domestic and international rail intermodal service and long haul and regional highway brokerage. This stock closed up 4% at $26.01 on Monday.

Monday's Volume: 729,000

Average Volume: 269,097

Volume % Change: 200%

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From a technical perspective, MATX ripped higher here right of its 50-day moving average of $24.89 with above-average volume. This move also pushed shares of MATX into breakout territory, since the stock took out some near-term overhead resistance at $25.61. Shares of MATX are now starting to move within range of triggering another major breakout trade. That trade will hit if MATX manages to clear some past overhead resistance levels at $26.65 to $27.69 with high volume.

Traders should now look for long-biased trades in MATX as long as it's trending above its 50-day at $24.89 or above its 200-day at $24.07, and then once it sustains a move or close above those breakout levels with volume that's near or above 269,097 shares. If that breakout triggers soon, then MATX will set up to re-test or possibly take out its all-time high at $30.30.

Cytokinetics

Cytokinetics (CYTK) is a clinical-stage biopharmaceutical company engaged in discovery and development of novel small molecule therapeutics that modulate muscle function for the potential treatment of serious diseases and medical conditions. This stock closed up 8.6% at $12.57 on Monday.

Monday's Volume: 1.42 million

Average Volume: 470,111

Volume % Change: 163%

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From a technical perspective, CYTK trended significantly higher here right above some near-term support at $10.81 with heavy upside volume. This move is quickly pushing shares of CYTK within range of triggering a major breakout trade. That trade will hit if CYTK manages to take out its 52-week high at $13.38 with high volume.

Traders should now look for long-biased trades in CYTK as long as it's trending above some key near-term support at $10.81 and then once it sustains a move or close above its 52-week high at $13.38 with volume that's near or above 470,111 shares. If that breakout triggers soon, then CYTK will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $15 to $17, or even $20.

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.