Stock Quotes in this Article: ALGN, CLDN, DIS, SAVE

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.

Spirit Airlines

Spirit Airlines (SAVE) provides low-fare airline services. It operates approximately 250 daily flights to 50 destinations in the U.S., Caribbean and Latin America. This stock closed up 0.88% at $63 in Friday's trading session.

Friday's Volume: 7.78 million

Three-Month Average Volume: 1.06 million

Volume % Change: 781%

From a technical perspective, SAVE spiked modestly higher here right above its 50-day moving average of $59.08 with monster upside volume. This stock has been uptrending strong for the last month and change, since shares formed a double bottom chart pattern at $53.25 to $53.27. Following that bottom, shares of SAVE have ripped higher and are now approaching a near-term breakout trade. That trade will hit if SAVE manages to take out Friday's intraday high of $63.25 and then once it clears its 52-week high of $64.94 with high volume.

Traders should now look for long-biased trades in SAVE as long as it's trending above its 50-day at $59.08 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.06 million shares. If that breakout hits soon, then SAVE will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $70 to $75.

Celladon

Celladon (CLDN), a clinical-stage biotechnology company, focuses on developing treatments for heart failure, diabetes and neurodegenerative diseases. This stock closed up 5.3% to $15 in Friday's trading session.

Friday's Volume: 804,000

Three-Month Average Volume: 134,180

Volume % Change: 779%

From a technical perspective, CLDN spiked sharply higher here right off some near-term support at $14 with heavy upside volume. This move briefly pushed shares of CLDN into breakout territory, since the stock flirted with some near-term overhead resistance at $15. Shares of CLDN tagged an intraday high of $15.14, before closing right on $15 a share. This move is now starting to push shares of CLDN within range of triggering a much bigger breakout trade. That trade will hit if CLDN manages to take out Friday's intraday high of $15.14 to its all-time high of $17.16 with high volume.

Traders should now look for long-biased trades in CLDN as long as it's trending above some key near-term support at $14 or at $13 and then once it sustains a move or close above those breakout levels with volume that hits near or above 134,180 shares. If that breakout begins soon, then CLDN will set up to enter new all-time-high territory above $17.16, which is bullish technical price action. Some possible upside targets off that breakout are $20 to $25.

Align Technology

Align Technology (ALGN) operates as a medical device company primarily in the U.S. and internationally. It designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and computer-aided manufacturing digital services that are used in dentistry, orthodontics and dental records storage. This stock closed up 2.1% at $56.32 in Friday's trading session.

Friday's Volume: 10.71 million

Three-Month Average Volume: 1.12 million

Volume % Change: 1014%

From a technical perspective, ALGN jumped higher here right above its 200-day moving average of $53.49 and it broke out above some near-term overhead resistance at $55.44 with monster upside volume. This spike higher on Friday is quickly pushing shares of ALGN within range of triggering another big breakout trade. That trade will hit if ALGN manages to take out Friday's intraday high of $56.63 and then once it clears some past overhead resistance at $57.50 with high volume.

Traders should now look for long-biased trades in ALGN as long as it's trending above Friday's low of $54.78 or above its 200-day at $53.49 and then once it sustains a move or close above those breakout levels with volume that this near or above 1.12 million shares. If that breakout kicks off soon, then ALGN will set up to re-test or possibly take out its next major overhead resistance levels at $59.81 to $62 to $64.

Walt Disney

Walt Disney (DIS) operates as an entertainment company worldwide. This stock closed up 1% to $85.30 in Friday's trading session.

Friday's Volume: 17.93 million

Three-Month Average Volume: 6.43 million

Volume % Change: 187%

From a technical perspective, DIS spiked modestly higher here right above its 50-day moving average of $82.13 with strong upside volume. This spike higher on Friday is starting to push shares of DIS within range of triggering a near-term breakout trade. That trade will hit if DIS manages to take out Friday's intraday high of $85.39 to its 52-week high of $85.86 with high volume.

Traders should now look for long-biased trades in DIS as long as it's trending above its 50-day at $82.13 and then once it sustains a move or close above those breakout levels with volume that hits near or above 6.43 million shares. If that breakout materializes soon, then DIS 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, or even $100.

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.