Stock Quotes in this Article: CBOE, DGI, TTEK

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.

DigitalGlobe

DigitalGlobe (DGI) provides imagery and imagery information products and services in the U.S. and internationally. This stock closed up 11.5% at $29.17 in Friday's trading session.

Friday's Volume: 1.98 million

Three-Month Average Volume: 615,523

Volume % Change: 175%

From a technical perspective, DGI gapped up sharply higher here back above its 50-day moving average of $28.86 and into breakout territory above some near-term overhead resistance at $28.84 with strong upside volume follows. This stock recently formed a double bottom chart pattern at $26.42 to $26.08. Following that bottom, shares of DGI have now started to gap sharply higher and the stock looks ready to continue its trend to the upside. Market players should now look for a continuation move to the upside in the short-term if DGI manages to take out Friday's intraday high of $29.88 with high volume.

Traders should now look for long-biased trades in DGI as long as it's trending above Friday's intraday low of $27.51 and then once it sustains a move or close above $29.88 with volume that this near or above 615,523 shares. If that move gets underway soon, then DGI will set up to re-test or possibly take out its next major overhead resistance levels at $31.40 to $32.52, or even its 200-day moving average of $33.57.

Tetra Tech

Tetra Tech (TTEK), together with its subsidiaries, provides consulting, engineering, program management, construction management and technical services for water, environment, energy, infrastructure and natural resources sectors. This stock closed up 3.3% at $25.10 in Friday's trading session.

Friday's Volume: 1.27 million

Three-Month Average Volume: 436,506

Volume % Change: 254%

From a technical perspective, TTEK spiked notably higher here with strong upside volume flows. This stock recently gapped down sharply lower from around $27 to its recent low of $22.96 with monster downside volume flows. Following that move, shares of TTEK have now started to rebound higher and enter that recent gap-down-day zone with above-average volume. Market players should now look for a continuation move to the upside in the near-term of TTEK manages to take out Friday's intraday high of $25.47 with high volume.

Traders should now look for long-biased trades in TTEK as long as it's trending above Friday's intraday low of $24.11 and then once it sustains a move or close above $$25.47 with volume that hits near or above 436,506 shares. If that move gets started soon, then TTEK will set up to re-fill some more of that recent gap-down-day zone that started near $27.

CBOE Holdings

CBOE Holdings (CBOE), through its subsidiaries, operates markets for the trading of listed, or exchange-traded, derivatives contracts. This stock closed up 2.5% at $49.71 in Friday's trading session.

Friday's Volume: 1.30 million

Three-Month Average Volume: 742,547

Volume % Change: 95%

From a technical perspective, CBOE jumped notably higher here back above its 50-day moving average of $48.85 with above-average volume. This move to the upside on Friday also briefly pushed shares of CBOE into breakout territory, since the stock flirted with some near-term overhead resistance at $49.76. Market players should now look for a continuation move to the upside in the short-term if CBOE manages to take out Friday's intraday high of $49.80 with strong upside volume.

Traders should now look for long-biased trades in CBOE as long as it's trending above its 50-day at $48.84 or above Friday's intraday low of $47.02 and then once it sustains a move or close above $49.80 with volume that's near or above 742,547 shares. If that move gets started soon, then CBOE will set up to re-test or possibly take out its next major overhead resistance levels at its 200-day moving average of $51.10 to $51.59. Any high-volume move above those levels will then give CBOE a chance to tag its next major overhead resistance levels at $53 to $53.50.

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.