Stock Quotes in this Article: CFX, EEP, VVUS, WLT

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."

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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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Colfax

Colfax (CFX) is a manufacturing and engineering company that provides gas- and fluid-handling and fabrication technology products and services to commercial and governmental customers around the world. This stock closed up 2.1% at $45.98 on Wednesday.

Wednesday's Volume: 4.48 million

Average Volume: 594,864

Volume % Change: 762%

Shares of CFX trended higher on Wednesday after the company announced the pricing of an aggregate of 10 million shares of common stock in a registered underwritten public offering at a price per share of $44.25.

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From a technical perspective, CFX rose modestly higher here back above its 50-day moving average of $45.61 with heavy upside volume. This move is quickly pushing shares of CFX within range of triggering a near-term breakout trade. That trade will hit if CFX manages to take out some near-term overhead resistance levels at $47 to $47.06 with high volume.

Traders should now look for long-biased trades in CFX as long as it's trending above its 50-day at $45.61 and then once it sustains a move or close above those breakout levels with volume that hits near or above 594,864 shares. If that breakout triggers soon, then CFX will set up to re-test or possibly take out its 52-week high at $48.82. Any high-volume move above $48.82 will then give CFX a chance to trend north of $50 in the near future.

Vivus

Vivus (VVUS) is a biopharmaceutical company engaged in the development and commercialization of therapeutic products for large underserved markets, including obesity and related morbidities, such as sleep apnea and diabetes and men's sexual health. This stock closed up 9.7% at $13.21 on Wednesday.

Wednesday's Volume: 6.94 million

Average Volume: 2.34 million

Volume % Change: 193%

Shares of VVUS soared higher on Wednesday despite the fact the company said it absorbed a $5.8 million charge to write off unsold inventory largely from its initial production of the weight-loss drug Qsymia.

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From a technical perspective, VVUS bounced sharply higher here right off its 50-day moving average of $11.46 with heavy upside volume. This move is quickly pushing shares of VVUS within range of triggering a near-term breakout trade. That trade will hit if VVUS manages to clear some near-term overhead resistance levels at $13.50 to $13.96 with high volume.

Traders should now look for long-biased trades in VVUS as long as it's trending above $13 or $12.50 and then once it sustains a move or close above those breakout levels with volume that hits near or above 2.34 million shares. If that breakout triggers soon, then VVUS will set up to re-test or possibly take out its next major overhead resistance levels at $14.84 to its 200-day moving average at $15.35. Any high-volume move above $15.35 and then $15.54 will then put $18 to $20 into range for shares of VVUS.

Enbridge Energy Partners

Enbridge Energy Partners (EEP) owns and operates crude oil and liquid petroleum transportation and storage assets, as well as natural gas gathering, treating, processing, transportation and marketing assets in the U.S. This stock closed up 4.6% at $30.22 on Wednesday.

Wednesday's Volume: 2.62 million

Average Volume: 953,151

Volume % Change: 165%

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From a technical perspective, EEP ripped higher here right above its 50-day moving average of $28.72 with heavy upside volume. This move pushed shares of EEP into breakout territory, since the stock closed above some near-term overhead resistance levels at $29.74 to $29.86. Shares of EEP are now starting to move within range of triggering another major breakout trade.

Traders should now look for long-biased trades in EEP as long as it's trending above $29.50 and then once it sustains a move or close above its next major overhead resistance levels at $30.40 to its 52-week high at $31.12 with volume that hits near or above 953,151 shares. If that breakout triggers soon, then EEP will set up to re-test or possibly take out its next major overhead resistance levels at $32 to $35.

Walter Energy

Walter Energy (WLT) is a producer and exporter of metallurgical coal for the global steel industry. It also produces steam coal, coal bed methane gas, metallurgical coke and other related products. This stock closed up 14.5% at $19.23 on Wednesday.

Wednesday's Volume: 12.52 million

Average Volume: 4.36 million

Volume % Change: 221%

From a technical perspective, WLT soared higher here right above some near-term support at $16.57 with monster upside volume. This stock had been downtrending badly for the last two months, with shares falling from its recent high of $40.30 to its 52-week low of $16.08. During that move, shares of WLT have been consistently making lower highs and lower lows, which is bearish technical price action. That said, shares of WLT have now started to bounce strongly off some previous support levels, and it's now moving within range of triggering a near-term breakout trade. That trade will hit if WLT manages to take out Wednesday high of $19.65 and then once it clears more resistance at $20 with high volume.

Traders should now look for long-biased trades in WLT as long as it's trending above $18.81 or $18.06 and then once it sustains a move or close above those breakout levels with volume that hits near or above 4.36 million shares. If that breakout triggers soon, then WLT will set up to re-test or possibly take out its next major overhead resistance levels at $23 to its 50-day moving average at $24.27.

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.

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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.