Stock Quotes in this Article: INGN, GMED, HPTX, PAYC

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.

Inogen

Inogen (INGN), a medical technology company, develops, manufactures and markets portable oxygen concentrators. This stock closed up 4.5% at $19.03 in Wednesday's trading session.

Wednesday's Volume: 630,000

Three-Month Average Volume: 56,388

Volume % Change: 913%

From a technical perspective, INGN gapped up sharply higher here right above some near-term support at $18 with monster upside volume flows. This strong spike to the upside on Wednesday briefly pushed shares of INGN back above its 50-day moving average of $19.40, before the stock closed just below that level at $19.03. Shares of INGN are now starting to trend within range of triggering a near-term breakout trade. That trade will hit if INGN manages to take out Wednesday's intraday high of $19.60 to some more near-term overhead resistance at $20 with high volume.

Traders should now look for long-biased trades in INGN as long as it's trending above Wednesday's intraday low of $18.52 and then once it sustains a move or close above those breakout levels with volume that's near or above 56,388 shares. If that breakout triggers soon, then INGN will set up to re-test or possibly take out its next major overhead resistance levels at $21 to $22.37, or even $23 to its 52-week high at $24.37.

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Paycom Software

Paycom Software (PAYC), provides a cloud-based human capital management software solution delivered as software-as-a-service in the U.S. This stock closed up 6.1% at $14.75 in Wednesday's trading session.

Wednesday's Volume: 378,000

Three-Month Average Volume: 97,622

Volume % Change: 198%

From a technical perspective, PAYC ripped sharply higher here right above its 50-day moving average of $13.70 and into breakout territory above some near-term overhead resistance at $14.08 with strong upside volume flows. This large move to the upside on Wednesday is now quickly pushing shares of PAYC within range of triggering another big breakout trade. That trade will hit if PAYC manages to take out Wednesday's intraday high of $14.78 to some more near-term overhead resistance levels at $15.22 to $15.61 with high volume.

Traders should now look for long-biased trades in PAYC as long as it's trending above Wednesday's intraday low of $13.92 or above its 50-day at $13.70 and then once it sustains a move or close above those breakout levels with volume that's near or above 97,622 shares. If that breakout hits soon, then PAYC will set up to re-test or possibly take out its next major overhead resistance levels at $16.06 to $16.69, or even its all-time high at $17.92.

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Hyperion Therapeutics

Hyperion Therapeutics (HPTX), a commercial biopharmaceutical company, focuses on the development and commercialization of therapeutics to treat disorders in the areas of orphan diseases and hepatology. This stock closed up 4.5% at $24.57 in Wednesday's trading session.

Wednesday's Volume: 248,000

Three-Month Average Volume: 131,695

Volume % Change: 85%

From a technical perspective, HPTX ripped higher here right above some near-term support at $23 with above-average volume. This move briefly pushed shares of HPTX back above its 50-day moving average of $24.88, before the stock closed just below that level at $24.57. This strong trend to the upside on Wednesday is starting to push shares of HPTX within range of triggering a near-term breakout trade. That trade will hit if HPTX manages to take out its 200-day moving average of $25.17 to some more near-term overhead resistance at $26.10 with high volume.

Traders should now look for long-biased trades in HPTX as long as it's trending above Wednesday's intraday low of $23.43 or above more near-term support at $23 and then once it sustains a move or close above those breakout levels with volume that's near or above 131,695 shares. If that breakout gets underway soon, then HPTX will set up to re-test or possibly take out its next major overhead resistance levels at $28 to $29, or even $30.

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Globus Medical

Globus Medical (GMED), a medical device company, focuses on the design, development and commercialization of musculoskeletal implants that promote healing in patients with spine disorders. This stock closed up 2.3% at $18.96 in Wednesday's trading session.

Wednesday's Volume: 908,000

Three-Month Average Volume: 606,181

Volume % Change: 50%

From a technical perspective, GMED trended notably higher here with above-average volume. This stock recently gapped down sharply from around $23 to $17.45 with monster downside volume. Following that move, shares of GMED have started to uptick a bit off that $17.45 low and it's quickly moving within range of triggering a major breakout trade. That trade will hit if GMED manages to take out Wednesday's intraday high of $19.13 to some more near-term overhead resistance levels at $19.46 with high volume.

Traders should now look for long-biased trades in GMED as long as it's trending above Wednesday's intraday low of $18.44 and then once it sustains a move or close above those breakout levels with volume that's near or above 606,181 shares. If that breakout materializes soon, then GMED will set up to re-fill some of its previous gap-down-day zone that started right around $23.

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.