Stock Quotes in this Article: CYBX, IDXX, ROVI, ORIG

WINDERMERE, Fla. (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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Ocean Rig UDW

Ocean Rig UDW (ORIG) is a Marshall Islands-registered international offshore drilling contractor. The firm provides oilfield services for offshore oil and gas exploration, development and production drilling. This stock is trading up 4.6% at $16.32 in recent trading.

Today’s Volume: 760,000

Average Volume: 129,752

Volume % Change: 916%

From a technical perspective, ORIG is ripping higher here right off its 200-day moving average of $15.75 with monster upside volume. This move is quickly pushing shares of ORIG within range of triggering a major breakout trade. That trade will hit if ORIG manages to take out some near-term overhead resistance levels at $16.44 to $16.67 with high volume.

Traders should now look for long-biased trades in ORIG as long as it’s trending above its 50-day at $15.36 and then once it sustains a move or close above those breakout levels with volume that hits near or above 129,752 shares. If that breakout triggers soon, then ORIG will set up to re-test or possibly take out its next major overhead resistance level at $18.43.

Cyberonics

Cyberonics (CYBX) is a medical device company engaged in the design, development, sales and marketing of implantable medical devices that provide a unique therapy for the treatment of refractory epilepsy and treatment-resistant depression. This stock is trading up 0.34% at $44.13 in recent trading.

Today’s Volume: 1.57 million

Average Volume: 360,892

Volume % Change: 605%

From a technical perspective, CYBX is rebounding here off oversold levels with heavy upside volume. This stock recently plunged badly from $56.73 to today’s low of $43.23 with heavy downside volume flows. That move pushed shares of CYBX into oversold territory, since the stock’s current relative strength index is 21.60. Oversold can always get more oversold, but it’s also an area where a stock can experience a powerful bounce higher from.

Traders should now look for long-biased trades in CYBX as long as it’s trending above today’s low of $43.23, and then once it sustains a move or close back above its 200-day moving average of $46.14 with volume that hits near or above 360,892 shares. If that move triggers soon, then CYBX could easily rebound back towards its 50-day moving average of $51.45.

Idexx Laboratories

Idexx Laboratories (IDXX) develops, manufactures and distributes products and provides services mainly for the veterinary and the production animal, water testing and dairy markets. This stock is trading up 1% at $96.01 in recent trading.

Today’s Volume: 814,000

Average Volume: 301,638

Volume % Change: 440%

From a technical perspective, IDXX is moving modestly higher here right above its 50-day moving average of $93.84 with above-average volume. This stock has been uptrending decent for the last three months, with shares moving higher from its low of $87.51 to its recent high of $98.02. During that move, shares of IDXX have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of IDXX within range of triggering a near-term breakout trade. That trade will hit if IDXX takes out some near-term overhead resistance levels at $98.02 to $99.20 with high volume.

Traders should now look for long-biased trades in IDXX as long as it’s trending above $95, and then once it sustains a move or close above those breakout levels with volume that hits near or above 301,638 shares. If that breakout triggers soon, then IDXX will set up to re-test or possibly take out its 52-week high of $101.18. Any move above that level will then push shares of IDXX into new 52-week-high territory, which is bullish technical price action.

Rovi

Rovi (ROVI) focuses on powering the discovery and enjoyment of digital entertainment by providing a broad set of integrated solutions. This stock is trading up 3.9% at $17.02 in recent trading.

Today’s Volume: 2.77 million

Average Volume: 951,025

Volume % Change: 425%

From a technical perspective, ROVI is ripping higher here right off some near-term support at $16.20 with above-average volume. This stock has been uptrending strong for the last four months, with shares soaring from its low of $13.29 to its intraday high of $17.29. During that move, shares of ROVI have been consistently making higher lows and higher highs, which is bullish technical price action. That move has started to push ROVI within range of triggering a major breakout trade. That trade will hit if ROVI clears some resistance at $17.13 and then its 200-day at $18.20 with high volume.

Traders should now look for long-biased trades in ROVI as long as it’s trending above that key near-term support of $16.20 and then once it sustains a move or close above those breakout levels with volume that hits near or above 951,025 shares. If that breakout hits soon, then ROVI will set up to re-test or possibly take out its next major overhead resistance levels at $20.09 to $21.90.

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

-- Written by Roberto Pedone in Winderemere, Fla.


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

Roberto Pedone, based out of Windermere, Fla., 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.