Stock Quotes in this Article: CTRP, SI, WAG, WWW, CZR

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.

Ctrip.com

Ctrip.com (CTRP) provides travel-related services including hotel reservation, air-ticketing and packaged-tour services, as well as Internet-related advertising and other related services. This stock closed up 6.4% at $33.85 on Wednesday.

Wednesday's Volume: 4.96 million

Average Volume: 2.31 million

Volume % Change: 137%

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From a technical perspective, CTRP ripped higher here right above some near-term support at $31.25 with heavy upside volume. Shares of CTRP entered breakout territory, since the stock took out some near-term overhead resistance at $33.43. This move is quickly pushing CTRP within range of triggering another major breakout trade. That trade will hit if CTRP manages to clear its 52-week high at $35.33 with high volume.

Traders should now look for long-biased trades in CTRP as long as it's trending above Wednesday's low of $32.56 and then once it sustains a move or close above its 52-week high at $35.33 with volume that hits near or above 2.31 million shares. If that breakout triggers soon, then CTRP will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $40 to $43.

Wolverine World Wide

Wolverine World Wide (WWW) designs, manufactures and markets quality casual footwear and apparel, performance outdoor and athletic footwear and apparel, children's footwear, industrial work boots and apparel, and uniform shoes and boots. This stock closed up 1% at $57.93 on Wednesday.

Wednesday's Volume: 944,000

Average Volume: 440,062

Volume % Change: 142%

Shares of WWW trended modestly higher on Wednesday after the company hiked its full-year adjusted earnings outlook to $2.60 to $2.75 per share, vs. analysts' estimates of $2.31 per share.

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From a technical perspective, WWW trended higher here right above some near-term support at $54 with above-average volume. This stock has been uptrending strong for the last few weeks, with shares soaring higher from its low of $49.32 to its recent high of $60.35. During that move, shares of WWW have been making mostly higher lows and higher highs, which is bullish technical price action. That move has now pushed shares of WWW within range of triggering a near-term breakout trade. That trade will hit if WWW manages to take out its 52-week high at $60.35 with high volume.

Traders should now look for long-biased trades in WWW as long as it's trending above Wednesday's low of $56.42 and then once it sustains a move or close above its 52-week high at $60.35 with volume that hits near or above 440,062 shares. If that breakout triggers soon, then WWW will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $65 to $70.

Walgreen

Walgreen (WAG) operates retail drug store and general merchandise. It is engaged in the retail sale of prescription and non-prescription drugs and general merchandise. This stock closed up 3% at $47.85 on Wednesday.

Wednesday's Volume: 16.53 million

Average Volume: 6.13 million

Volume % Change: 161%

Shares of WAG spiked higher on Wednesday after the company raised its quarterly dividend by 14.5% to $0.315 from $0.275.

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From a technical perspective, WAG trended higher here right above some near-term support at $46 with heavy upside volume. This move is quickly pushing shares of WAG within range of triggering a near-term breakout trade. That trade will hit if WAG manages to clear its 50-day moving average at $48.28 with high volume.

Traders should now look for long-biased trades in WAG as long as it's trending above some near-term support at $46 and then once it sustains a move or close above its 50-day at $48.28 with volume that hits near or above 6.13 million shares. If that breakout triggers soon, then WAG will set up to re-test or possibly take out its next major overhead resistance levels at $50 to its 52-week high at $51.25. Any high-volume move above $51.25 will then give WAG a chance to tag $55.

Caesars Entertainment

Caesars Entertainment (CZR) is a casino-entertainment provider and a diverse U.S. casino-entertainment company. This stock closed up 12.8% to $15.94 on Wednesday.

Wednesday's Volume: 2.01 million

Average Volume: 715,757

Volume % Change: 196%

Shares of CZR skyrocketed higher on Wednesday after the company said it plans to move ahead with plans to offer about $1.8 billion in stock in its emerging online gambling business.

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From a technical perspective, CZR soared higher here right off its 50-day moving average of $14.36 with heavy upside volume. This stock has been uptrending strong for the last few weeks, with shares soaring higher from its low of $11.90 to its intraday high of $16.36. During that uptrend, shares of CZR have been consistently making higher lows and higher highs, which is bullish technical price action. That move has now started to push shares of CZR within range of triggering a major breakout trade. That trade will hit if CZR manages to take out Wednesday's high of $16.36 to $17.24 and then once it clears more key resistance levels at $17.77 to its all-time high at $18.37 with high volume.

Traders should now look for long-biased trades in CZR as long as it's trending above $15 or above its 50-day at $14.36 and then once it sustains a move or close above those breakout levels with volume that hits near or above 715,757 shares. If that breakout triggers soon, then CZR will set up to enter new all-time-high territory above $18.37, which is bullish technical price action. Some possible upside targets off that breakout are $25 to $30.

Siemens Aktiengesellschaft

Siemens Aktiengesellschaft (SI) designs microprocessors, physical IP and related technology and software, and sells development tools to enhance the performance, cost effectiveness and energy efficiency of high-volume embedded applications. This stock closed up 1.3% at $105.20 on Wednesday.

Wednesday's Volume: 955,000

Average Volume: 402,960

Volume % Change: 132%

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From a technical perspective, SI bounced modestly higher here right off its 200-day moving average of $103.87 and back above its 50-day moving average of $104.72. This move is quickly pushing shares of SI within range of triggering a near-term breakout trade. That trade will hit if SI manages to take out some near-term overhead resistance at $106 and then above more resistance levels at $108 to $108.73 with high volume.

Traders should now look for long-biased trades in SI as long as it's trending above its 50-day at $104.72 or above Wednesday's low of $103.96 and then once it sustains a move or close above those breakout levels with volume that's near or above 402,960 shares. If that breakout triggers soon, then SI will set up to re-test or possibly take out its next major overhead resistance levels at $110 to its 52-week high at $113.16. Any high-volume move above $113.16 will then give SI a chance to tag $120.

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.