Stock Quotes in this Article: CBOE, CQB, SIVB, ULTA, PAMT

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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Parametric Sound

Parametric Sound (PAMT), a technology company, focuses on delivering audio solutions through its HyperSound technology platform primarily in North America, Europe and Asia. This stock is trading up 4.8% at $17.02 in recent trading.

Today's Volume: 111,000

Average Volume: 234,264

Volume % Change: 50%

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From a technical perspective, PAMT is ripping higher here right above some near-term support at $15.37 with decent upside volume. This move is quickly pushing shares of PAMT within range of triggering a near-term breakout trade. That trade will hit if PAMT manages to take out its 50-day moving average at $17.94 and then once it clears some more overhead resistance levels at $18.39 to $19.15 with high volume.

Traders should now look for long-biased trades in PAMT as long as it's trending above $16 and then once it sustains a move or close above those breakout levels with volume that hits near or above 234,264 shares. If that breakout triggers soon, then PAMT will set up to re-test or possibly take out its next major overhead resistance levels at $21 to its 52-week high at $22.39. Any high-volume move above those levels will then give PAMT a chance to tag $25.

Chi Brands International

Chi Brands International (CQB) distributes and markets bananas and other fresh products that are sold principally under the Chiquita brand. This stock is trading up 9.4% at $10.88 in recent trading.

Today's Volume: 424,000

Average Volume: 384,689

Volume % Change: 65%

Shares of CQB are ripping higher today after BB&T Capital upgraded the stock to buy from hold.

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From a technical perspective, CQB is screaming higher here right above some near-term support at $9.90 with above-average volume. This stock has been uptrending strong for the last two months and change, with shares soaring higher from its low of $6.95 to its recent high of $11.23. During that uptrend, shares of CQB have been consistently making higher lows and higher highs, which is bullish technical price action. That move is quickly pushing shares of CBQ within range of triggering a major breakout trade. That trade will hit if CQB manages to take out its 52-week high at $11.23 with high volume.

Traders should now look for long-biased trades in CQB as long as it's trending above today's low of $10.26 and then once it sustains a move or close above $11.23 with volume that hits near or above 384,689 shares. If that breakout triggers soon, then CQB will set up to enter new 52-week high territory, which is bullish technical price action. Some possible upside targets off that breakout are $13 to $15, or even $16.

Ulta Salon Cosmetics

Ulta Salon Cosmetics (ULTA) is a beauty retailer that provides one-stop shopping for mass and salon products and salon services in the U.S. This stock is trading up 1.4% at $95.54 in recent trading.

Today's Volume: 1.15 million

Average Volume: 1.18 million

Volume % Change: 69%

Shares of ULTA are moving higher today after the company said interim CEO Dennis Eck will step down and U.S. Cellular's Mary Dillon will become the new CEO.

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From a technical perspective, ULTA is trending higher here right off its 200-day moving average of $92.37 with strong upside volume. This move is quickly pushing shares of ULTA within range of triggering a near-term breakout trade. That trade will hit if ULTA manages to take out some near-term overhead resistance levels at $97.50 to $98.88 with high volume.

Traders should now look for long-biased trades in ULTA as long as it's trending above its 200-day at $92.37 and then once it sustains a move or close above those breakout levels with volume that this near or above 1.18 million shares. If that breakout triggers soon, then ULTA will set up to re-test or possibly take out its next major overhead resistance levels at $100.60 to $102.56. Any high-volume move above those levels will then give this stock a chance to re-test or possibly take out its 52-week high at $103.52.

SVB Financial Group

SVB Financial Group (SIVB) is a financial services company, as well as a bank holding company and financial holding company, offering wide range of banking and financial products and services. This stock is trading up 1.8% to $80.24 in recent trading.

Today's Volume: 205,000

Average Volume: 217,017

Volume % Change: 50%

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From a technical perspective, SIVB is trending higher here right off some near-term support at $78 with decent upside volume. This move has started to push shares of SIVB into breakout and new 52-week-high territory, since the stock has cleared some previous overhead resistance levels at $78.11 to $78.53. At last check, SIVB has hit an intraday high of $80.50 and volume is just about to surpass its three-month average action of 217,017 shares.

Traders should now look for long-biased trades in SIVB as long as it's trending above some key near-term support levels at $78 or $76 and then once it sustains a move or close above its 52-week high at $80.50 with volume that hits near or above 217,017 shares. If we get that move soon, then SIVB will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that move are $85 to $90.

CBOE Holdings

CBOE Holdings (CBOE) is engaged in the trading of options on individual equities, market indexes and exchange-traded funds. This stock is trading up 1.7% at $43.35 in recent trading.

Today's Volume: 424,000

Average Volume: 465,164

Volume % Change: 50%

Shares of CBOE are trending higher today after Goldman Sachs upgraded the stock to buy from neutral to reflect increased volatility and resulting volumes, and relative valuation. The firm issued a price target of $47 per share for CBOE.

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From a technical perspective, CBOE is moving higher here right above some near-term support at $41.97 with decent upside volume. This stock has been uptrending strong for the last six months, with shares soaring higher from its low of $28.88 to its recent high of $43.77. During that uptrend, shares of CBOE have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of CBOE within range of triggering a major breakout trade. That trade will hit if CBOE manages to clear its 52-week high at $43.77 with high volume.

Traders should now look for long-biased trades in CBOE as long as it's trending above some key near-term support levels at $41.97 or above $41 and then once it sustains a move or close above its 52-week high at $43.77 with volume that's near or above 465,164 shares. If that breakout triggers soon, then CBOE will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $48 to $50.

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.