Stock Quotes in this Article: BKS, GDOT, N, WDAY

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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Workday

Workday (WDAY) is a provider of enterprise cloud-based applications for human capital management, payroll, financial management, time tracking, procurement and employee expense management. This stock is trading up 5.6% at $60.87 in recent trading.

Today’s Volume: 869,000

Average Volume: 441,669

Volume % Change: 184%

From a technical perspective, WDAY is ripping higher here and showing a continuation pattern above its recent breakout above $57.10 to $57.21 with above-average volume. This move has started to push shares of WDAY into all-time high territory, which is bullish technical price action.

Traders should now look for long-biased trades in WDAY as long as it’s trending above today’s low of $57.50, and then once it sustains a move or close above its new all-time high of $61.40 with high volume. If WDAY can maintain this trend into all-time high territory, then this stock will have an excellent chance of tagging $65 or higher in the near future.

Green Dot

Green Dot (GDOT) is a financial services company, together with its subsidiaries, provides money management solutions in the U.S. It offers general purpose reloadable prepaid debit cards, and cash loading and transfer services. This stock is trading up 5.2% to $14.93 in recent trading.

Today’s Volume: 726,000

Average Volume: 547,049

Volume % Change: 128%

From a technical perspective, GDOT is ripping higher here right above some near-term support at $13.84 with above-average volume. This move has started to push shares of GDOT back above its 200-day moving average of $14.69 and it’s moving the stock within range of triggering a major breakout trade. That trade will hit if GDOT manages to take out its 52-week high at $15.50 with high volume.

Traders should now look for long-biased trades in GDOT as long as it’s trending above its 200-day at $14.69 or above key near-term support at $13.84 and then once it sustains a move or close above $15.50 with volume that hits near or above 547,049 shares. If that breakout hits soon, then GDOT will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $17 to $18. Keep in mind that GDOT will move into a massive gap down zone above $15.50 from last July that started at $24.

Barnes & Noble

Barnes & Noble (BKS) is engaged in sale of trade books, mass market paperbacks, children's books, bargain books, magazines, gift, music and movies direct to customers. This stock is trading up 6.3% at $16.62 in recent trading.

Today’s Volume: 1.83 million

Average Volume: 1.59 million

Volume % Change: 105%

From a technical perspective, BKS is trending higher here with above-average volume. This stock has been uptrending for the last few weeks, with shares moving higher from its low of $12.91 to its intraday high of $16.68. During that move, shares of BKS have been mostly making higher lows and higher highs, which is bullish technical price action. That move is now quickly pushing shares of BKS within range of triggering a major breakout trade. That trade will hit if BKS manages to take out some past overhead resistance levels at $17.27 to $17.68 with high volume.

Traders should now look for long-biased trades in BKS as long as it’s trending above $15.74 to $15.50, and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.59 million shares. If that breakout triggers soon, then BKS will set up to re-test or possibly take out its next major overhead resistance level at $19 to $19.58. Any high-volume move above $19.58 will then put its next major overhead resistance at $22 into range for shares of BKS.

NetSuite

NetSuite (N) provides cloud-based financials/enterprise resource planning software suites in the U.S. and internationally. This stock is trading up 2.5% at $74.51 in recent trading.

Today’s Volume: 574,000

Average Volume: 354,098

Volume % Change: 103%

From a technical perspective, N is spiking higher here with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $65.31 to its intraday high of $74.90. During that move, shares of N have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of N within range of triggering a major breakout trade. That trade will hit if N manages to take out its 52-week high at $75.75 with high volume.

Traders should now look for long-biased trades in N as long as it’s trending above today’s low of $71.41, and then once it sustains a move or close above $75.75 with volume that hits near or above 354,098 shares. If that breakout triggers soon, then N will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $78 to $80 in the near future.

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.