Stock Quotes in this Article: FWRD, RRGB, TGI, DWRE

MADISON, 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.

Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by "superinvestors."

>>5 Stocks Poised to Pop on Bullish Earnings

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.

>>5 Rocket Stocks to Buy as Stocks Bounce

Triumph Group

Triumph Group (TGI) designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. This stock closed up 4.4% at $78.31 on Tuesday.

Tuesday's Volume: 1.22 million

Average Volume: 470,512

Volume % Change: 154%

>>5 Stocks Under $10 Set to Soar

From a technical perspective, TGI gapped sharply higher here back above its 50-day moving average at $77.09 with heavy upside volume. This move is quickly pushing shares of TGI within range of triggering a major breakout trade. That trade will hit if TGI manages to take out some near-term overhead resistance levels at $80.50 to its 52-week high at $81.80 with high volume.

Traders should now look for long-biased trades in TGI as long as it's trending above its 50-day at $77.09 and then once it sustains a move or close above those breakout levels with volume that hits near or above 470,512 shares. If that breakout triggers soon, then TGI will set up to enter new 52-week-high territory above $81.80, which is bullish technical price action. Some possible upside targets off that breakout are $85 to $90.

Forward Air

Forward Air (FWRD) provides surface transportation and related logistics services to the North American deferred air freight market. This stock closed up 2% to $39.62 on Tuesday.

Tuesday's Volume: 266,000

Average Volume: 120,981

Volume % Change: 127%

>>5 Stocks Poised for Breakouts

From a technical perspective, FWRD bounced higher here right off some near-term support at $38.75 with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $35.84 to its 52-week high of $39.66. During that move, shares of FWRD have been consistently making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of FWRD within range of triggering a near-term breakout trade. That trade will hit if FWRD manages to take out its 52-week high at $39.66 with high volume.

Traders should now look for long-biased trades in FWRD as long as it's trending above some key near-term support levels at $38.75 or above its 50-day at $37.46 and then once it sustains a move or close above $39.66 with volume that hits near or above 120,981 shares. If that breakout triggers soon, then FRWRD will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $43 to $45.

Red Robin Gourmet Burgers

Red Robin Gourmet Burgers (RRGB) is a casual dining restaurant chain focused on serving an imaginative selection of high quality gourmet burgers in a family-friendly atmosphere. This stock closed up 2% at $52.77 on Tuesday.

Tuesday's Volume: 248,000

Average Volume: 142,900

Volume % Change: 100%

From a technical perspective, RRGB spiked higher here right above some near-term support at $50 with above-average volume. This stock has been uptrending strong for the last month and change, with shares moving higher from its low of $42.82 to its recent high of $53.83. During that move, shares of RRGB have been mostly making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of RRGB within range of triggering a near-term breakout trade. That trade will hit if RRGB manages to clear its 52-week high at $53.83 with high volume.

Traders should now look for long-biased trades in RRGB as long as it's trending above today's low of $51.96 or above some more key support at $50 and then once it sustains a move or close above $53.83 with volume that hits near or above 142,900 shares. If that breakout triggers soon, then RRBG will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $56 to $60.

Demandware

Demandware (DWRE) provides software-as-a-service e-commerce solutions that enable companies to easily design, implement and manage their own customized e-commerce sites, including websites, mobile applications and other digital storefronts. This stock closed up 2.5% to $31.68 on Tuesday.

Tuesday's Volume: 478,000

Average Volume: 249,288

Volume % Change: 100%

From a technical perspective, DWRE bounced higher here right off some near-term support at $31 with above-average volume. This move briefly pushed shares of DWRE into breakout territory, since the stock flirted with some near-term overhead resistance at $31.71. Shares of DWRE closed just below that breakout level at $31.68, and volume was well above its three-month average action of 249,288 shares. This stock is now quickly moving within range of triggering a major breakout trade. That trade will hit if DWRE manages to take out Tuesday's high of $31.88 and then once it clears more resistance at $33.89 to its all-time high at $34.27 with high volume.

Traders should now look for long-biased trades in DWRE as long as it's trending above Tuesday's low of $31.03 and then once it sustains a move or close above those breakout levels with volume that hits near or above 249,288 shares. If that breakout triggers soon, then DWRE will set up to enter new all-time high territory above $34.27, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $43.

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

-- Written by Roberto Pedone in Madison, Wis.

RELATED LINKS:

>>4 Huge Stocks Ripe for a Sharp Pullback
>>5 Dividend Stocks Getting Ready to Hike Payouts

>>3 Big Stocks on Traders' Radars

Follow Stockpickr on Twitter and become a fan on Facebook.

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

Roberto Pedone, based out of Madison, 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.