Stock Quotes in this Article: PRLB, TRLA, TSRO, CG

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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Trulia

Trulia (TRLA), which operates as a real estate search engine, is trading up 3.1% at $32.80 in recent trading.

Today’s Volume: 715,000

Average Volume: 509,402

Volume % Change: 206%

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From a technical perspective, TRLA is trending higher here and starting to trigger a breakout above some near-term overhead resistance levels at $31.94 to $32.40 with heavy upside volume. This stock recently bounced right off its 50-day moving average of $28.69 and is now taking out those key overhead resistance levels.

Traders should now look for long-biased trades in TRLA as long as it’s trending above today’s low of $31.65 or above that first breakout level of $31.94, and then once it sustains a move or close above $32.40 to $33.01 with volume that hits near or above 509,402 shares. If TRLA can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance level at its 52-week high of $38.22.

Tesaro

Tesaro (TSRO), an oncology-focused biopharmaceutical company, is trading up 6.6% at $24.84 in recent trading.

Today’s Volume: 185,000

Average Volume: 100,525

Volume % Change: 186%

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From a technical perspective, TSRO is ripping higher here above some past resistance at $22.89 with above-average volume. This move is quickly pushing shares of TSRO within range of triggering a major breakout trade. That trade will hit if TSRO manages to take out its previous double top resistance area at $25.03 to $25.13 with high volume. At last check, TSRO had hit an intraday high of $25.17, and volume wass above its three-month average action of 100,525 shares.

Traders should now look for long-biased trades in TSRO as long as it’s trending above $22.89 and then once it sustains a move or close above those breakout levels with volume that hits near or above 100,525 shares. If that breakout hits soon, then TSRO will set up to enter new 52-week-high territory and all-time-high territory above $25.17, which is bullish technical price action. Some possible upside targets off that breakout are $28 to $30.

Carlyle Group

Carlyle Group (CG) primarily engages in private equity investment management and financing services and invests, directly and indirectly, in private-equity-related instruments on behalf of its clients. This stock is trading up 3.6% at $31.78 in recent trading.

Today’s Volume: 280,000

Average Volume: 248,290

Volume % Change: 170%

From a technical perspective, CG is trending higher here right above some near-term support at $29.90 with above-average volume. Shares of CG recently formed a double bottom chart pattern at $29.86 to $29.90, and the stock is now ripping off that bottom and moving within range of triggering a near-term breakout trade. That trade will hit if CG manages to clear some near-term overhead resistance at $31.73 and then once it takes out its 50-day at $31.77 with high volume.

Traders should now look for long-biased trades in CG as long as it’s trending above today’s low of $30.89 and then once it sustains a move or close above those breakout levels with volume that hits near or above 248,290 shares. If that breakout triggers soon, then CG will set up to re-test or possibly take out its next major overhead resistance levels at $33 to $34.24. Any high-volume move above $34.24 will then put $37 to $37.89 into range for shares of CG.

Proto Labs

Proto Labs (PRLB) is a manufacturer of custom parts for prototyping and short-run production. This stock is trading up 7.8% at $50.83 in recent trading.

Today’s Volume: 608,000

Average Volume: 446,936

Volume % Change: 167%

From a technical perspective, PRLB is soaring here right above its 50-day moving average of $46.05 with above-average volume. This big spike has started to push shares of PRLB into breakout territory, since the stock has taken out some near-term overhead resistance levels at $49 to $49.60. At last check, PRLB has hit an intraday high of $51.23 and volume is well above its three-month average action of 446,936 shares.

Traders should now look for long-biased trades in PRLB as long as it’s trending above $49 to $49.60, and then once it sustains a move or close above today’s high of $51.23 with volume that hits near or above 446,936 shares. If we get that move soon, then PRLB will set up to re-test or possibly take out its 52-week high and all-time high at $53.91. Any high-volume move above $53.91 will then give PRLB a chance to hit $55 or higher 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.