Stock Quotes in this Article: ABMD, CLMS, SCHW, Z

DELAFIELD, 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.

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

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.

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With that in mind, let's take a look at several stocks rising on unusual volume recently.

Abiomed

Abiomed (ABMD) provides medical devices in circulatory support and continuum of care in heart recovery to acute heart failure patients. This stock closed up 3.9% at $26.76 in Wednesday's trading session.

Wednesday's Volume: 1.05 million

Three-Month Average Volume: 417,390

Volume % Change: 157%

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From a technical perspective ABMD spiked higher here right above some near-term support at $25.26 with above-average volume. This stock pulled back over the last few weeks from its high of $30.75 to its low of $25.26. That low corresponded with some previous support from February at $25.32. Market players should now look for a continuation move higher in the short-term if ABMD manages to take out Wednesday's high of $27.10 to its 50-day moving average of $27.90 with high volume.

Traders should now look for long-biased trades in ABMD as long as it's trending above some key near-term support levels at $25.26 or above its 200-day at $24.62 and then once it sustains a move or close above $27.10 to $27.90 with volume that this near or above 417,390 shares. If that move materializes soon, then ABMD will set up to re-test or possibly take out its next major overhead resistance levels at $29 to $30. Any high-volume move above those levels will then give ABMD a chance to tag or take out its 52-week high at $30.77.

Charles Schwab

Charles Schwab (SCHW), through its subsidiaries, provides securities brokerage, banking, money management and financial advisory services. This stock closed up 3.2% at $27.58 in Wednesday's trading session.

Wednesday's Volume: 18.77 million

Three-Month Average Volume: 6.82 million

Volume % Change: 171%

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From a technical perspective, SCHW spiked notably higher here and broke out above some near-term overhead resistance at $27.31 with strong upside volume. This spike pushed shares of SCHW into new 52-week-high territory, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if SCHW manages to take out Wednesday's high of $27.75 with strong volume.

Traders should now look for long-biased trades in SCHW as long as it's trending above some near-term support at$26.50 or above its 50-day moving average of $25.85 and then once it sustains a move or close above $27.75 with volume that hits near or above 6.82 million shares. If that move gets underway soon, then SCHW will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $33 to $35.

Calamos Asset Management

Calamos Asset Management (CLMS) is a publicly owned investment manager. The firm provides investment advisory services to individuals, including high-net-worth individuals, and institutions. This stock closed up 5.1% at $13.43 in Wednesday's trading session.

Wednesday's Volume: 446,000

Three-Month Average Volume: 180,082

Volume % Change: 150%

From a technical perspective, CLMS ripped sharply higher here right off some near-term support at $12.75 with above-average volume. This move is quickly pushing shares of CLMS within range of triggering a major breakout trade. That trade will hit if CLMS manages to take out Wednesday's high of $13.47 to its 52-week high at $13.69 with high volume.

Traders should now look for long-biased trades in CLMS as long as it's trending above Wednesday's low of $12.82 or above some more near-term support at $12.42 and then once it sustains a move or close above those breakout levels with volume that's near or above 180,082 shares. If that breakout kicks off soon, then CLMS 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 $20.

Zillow

Zillow (Z) operates real estate and home-related information marketplaces on mobile and the Web in the U.S. This stock closed up 2.3% at $95.95 in Wednesday's trading session.

Wednesday's Volume: 3.48 million

Three-Month Average Volume: 1.10 million

Volume % Change: 163%

From a technical perspective, Z trended notably higher here with above-average volume. This stock has been uptrending for the last number of trading sessions, with shares moving higher from its low of $79.05 to its intraday high of $98.35. During that move, shares of Z have been consistently making higher lows and higher highs, which is bullish technical price action. Market players should now look for a continuation move higher in the short-term if Z manages to take out Wednesday's high of $98.35 with high volume.

Traders should now look for long-biased trades in Z as long as it's trending above Wednesday's low of $92.76 or above $90 and then once it sustains a move or close above $98.35 with volume that's near or above 1.10 million shares. If that move starts soon, then Z will set up to re-test or possibly take out its all-time of $103.

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

-- Written by Roberto Pedone in Delafield, Wis.


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

Roberto Pedone, based out of Delafield, 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.