Stock Quotes in this Article: ARW, DXPE, FURX, TOWR

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 today.

Tower International

Tower International (TOWR) is a manufacturer of engineered structural metal components and assemblies primarily serving automotive OEMs. This stock closed up 4.2% to $21.65 in Wednesday's trading session.

Wednesday's Volume: 448,000

Three-Month Average Volume: 129,921

Volume % Change: 301%

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From a technical perspective, TOWR ripped higher here right above its 50-day moving average of $19.97 with above-average volume. This stock has been uptrending strong for the last six months, with shares moving higher from its low of $9.05 to its recent high of $23.93. During that move, shares of TOWR have been consistently making higher lows and higher highs, which is bullish technical price action. That strong trend has now pushed shares of TOWR within range of triggering a near-term breakout trade. That trade will hit if TOWR manages to take out some resistance at $22.50 to its 52-week high at $23.93 with high volume.

Traders should now look for long-biased trades in TOWR as long as it's trending above its 50-day at $19.97 or above more support at $19.10 and then once it sustains a move or close above those breakout levels with volume that hits near or above 129,921 shares. If that breakout triggers soon, then TOWR will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $27 to $30.

Arrow Electronics

Arrow Electronics (ARW) is a provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions. This stock closed up 3.8% at $44.93 in Wednesday's trading session.

Wednesday's Volume: 1.94 million

Three-Month Average Volume: 631,828

Volume % Change: 196%

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From a technical perspective, ARW gapped notably higher here right above some near-term support at $43 with above-average volume. This move is quickly pushing shares of ARW within range of triggering a major breakout trade. That trade will hit if ARW manages to take out Wednesday's high of $46.39 and then once it clears its three-year high at $47.50 with high volume.

Traders should now look for long-biased trades in ARW as long as it's trending above $43 or $42 and then once it sustains a move or close above those breakout levels with volume that hits near or above 631,828 shares. If that breakout triggers soon, then ARW will set up to enter new three-year-high territory, which is bullish technical price action. Some possible upside targets off that move are $50 to $55.

Franco-Nevada

Franco-Nevada (FURX) is a drug development collaboration company that uses clinical development strategies to increase the value of partnered pharmaceutical assets and accelerate their development timelines. This stock closed up 5% at $48.41 in Wednesday's trading session.

Wednesday's Volume: 174,000

Three-Month Average Volume: 64,357

Volume % Change: 140%

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From a technical perspective, FURX ripped higher here with above-average volume. This stock has been uptrending strong for the last month, with shares moving higher from its low of $32.84 to its intraday high of $49. During that move, shares of FURX have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of FURX into new 52-week-high territory. That said, the stock is also entering overbought territory, since its current relative strength index reading is 86. Overbought can always get more overbought, so shares of FURX could still have more upside in the near-term.

Traders should now look for long-biased trades in FURX as long as it's trending above Wednesday's low of $46.06 and then once it sustains a move or close above its new 52-week high at $49 with volume that's near or above 64,357 shares. If we get that move soon, then FURX will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $55 to $57.

DXP Enterprises

DXP Enterprises (DXPE) is engaged in the business of distributing maintenance, repair and operating products, equipment and service to industrial customers. This stock closed up 3.7% to $70.39 in Wednesday's trading session.

Wednesday's Volume: 343,000

Three-Month Average Volume: 96,080

Volume % Change: 269%

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From a technical perspective, DXPE gapped higher here and broke out above some near-term overhead resistance at $68 with above-average volume. This stock has been uptrending strong for the last three months, with shares moving higher from its low of $54.50 to its intraday high of $71.52. During that move, shares of DXPE have been mostly making higher lows and higher highs, which is bullish technical price action.

Traders should now look for long-biased trades in DXPE as long as it's trending above its $68 and then once it sustains a move or close above Wednesday's high at $71.52 with volume that hits near or above 96,080 shares. If we get that move soon, then DXPE will set up to re-test or possibly take out its next major overhead resistance levels at $73.50 to $77.

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.