Stock Quotes in this Article: ICLR, SHOO, SPR, TREX

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.

Icon

Icon (ICLR) is a contract research organization, providing outsourced development services on a global basis to the pharmaceutical, biotechnology and medical device industries. This stock is trading up 4% at $24.49 in recent trading.

Today’s Volume: 352,000

Average Volume: 161,763

Volume % Change: 277%

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From a technical perspective, ICLR is bouncing higher here right off its 50-day moving average of $24 with above-average volume. This move is quickly pushing ICLR within range of triggering a major breakout trade. That trade will hit once ICLR manages to take out some near-term overhead resistance levels at $25.16 to $25.51, and then once it clears some past resistance at $26.22 with high volume.

Traders should now look for long-biased trades in ICLR as long as it’s trending above its 50-day at $24, and then once it sustains a move or close above those breakout levels with volume that hits near or above 161,763 shares. If that breakout triggers soon, then look for ICLR to re-test or possibly take out its next major overhead resistance levels at $28 to $30.

Trex

Trex (TREX) is a manufacturer of wood-alternative decking, railing, fencing and trim products, which are marketed under the brand name Trex. This stock is trading up 5.9% at $37.02 in recent trading.

Today’s Volume: 589,000

Average Volume: 211,148

Volume % Change: 296%

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From a technical perspective, TREX is ripping higher here right off some near-term support at $34 with above-average volume. This move has started to push TREX into breakout and 52-week high territory, since the stock has cleared some near-term overhead resistance at $35.45.

Traders should now look for long-biased trades in TREX as long as it’s trending above $35.45 with strong upside volume flows. Look for a sustained move or close above $35.45 with volume that hits near or above 211,148 shares. If TREX can maintain that trend, then this stock will set up to hit $40 or higher in the near future.

Steven Madden

Steven Madden (SHOO) designs, sources, markets and sells fashion-forward name brand and private-label footwear for women, men and children and name brand and private-label fashion handbags and accessories. This stock is trading up 6.6% at $45.78 in recent trading.

Today’s Volume: 731,000

Average Volume: 341,200

Volume % Change: 245%

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From a technical perspective, SHOO is ripping higher here right off its 50-day moving average of $43.44 with above-average volume. This move has started to push SHOO into breakout and 52-week-high territory, since the stock has taken out some key overhead resistance levels at $45.33 to $45.55, and above $45.70.

Traders should now look for long-biased trades in SHOO as long as it’s trending above those breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above its three month average action of 341,200 shares as bullish. If SHOO can maintain that trend with volume, then look for this stock to trade north of $50 in the near future.

Spirit Aerosystems

Spirit Aerosystems (SPR) is an independent non-aircraft original equipment manufacturer parts designer and manufacturer of commercial aerostructures, as well as an independent supplier to both Boeing and Airbus. This stock is trading up 2.8% at $16.08 in recent trading.

Today’s Volume: 3.14 million

Average Volume: 1.55 million

Volume % Change: 289%

From a technical perspective, SPR is bouncing higher here right around some near-term support at $14.34 with monster upside volume. This bounce is coming off of oversold levels, since this stock recently plunged from $22 to $14.34 with heavy volume. That gap down pushed shares of SPR into oversold territory, since its current relative strength index reading is 23.90. This bounce today is now pushing SPR within range of triggering a near-term breakout trade. That trade will hit once SPR takes out its gap down day high of $17.62 with high volume.

Traders should now look for long-biased trades in SPR once it sustains a move or close above $17.62 with volume that hits near or above 1.55 million shares. If that breakout triggers soon, then look for SPIR to re-fill some of that previous gap and potentially trade up towards $19 to $20. It’s possible that SPR could hit its 50-day at $22.72 if the bounce is a powerful one.

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.