Stock Quotes in this Article: DECK, FNSR, IMOS, SINA, ORIG

WINDERMERE, Fla. (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. Many times when above average volume moves into 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.”

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.

ChipMOS Technologies

ChipMOS Technologies (IMOS) is an independent provider of testing and assembly services for LCD and other flat-panel display driver semiconductors in Taiwan, and for advanced memory and logic/mixed-signal products in Taiwan and Mainland China. This stock is trading up 5% at $14.20 in recent trading.

Today’s Volume: 395,000

Average Volume: 177,622

Volume % Change: 268%

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From a technical perspective, IMOS is ripping to the upside here with monster volume. This move is quickly pushing IMOS within range of triggering a major breakout trade. That trade will hit once IMOS clears some past overhead resistance levels at $14.71 to $15.76 with high volume.

Traders should now look for long-biased trades once IMOS sustains a move or close above those levels with volume that’s near or above 177,622 shares. If that breakout hits soon, then look for IMOS to re-test and possibly take out its next major overhead resistance level at $18.76.

Ocean Rig UDW

Ocean Rig UDW (ORIG) provides oilfield services for offshore oil and gas exploration, development and production drilling. It specializes in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. This stock is trading up 3.4% at $16.15 in recent trading.

Today’s Volume: 373,000

Average Volume: 160,678

Volume % Change: 252%

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From a technical perspective, ORIG is trending higher here after this stock found some buying interest right near its 200-day moving average of $15.09. This high-volume move is quickly pushing ORIG within range of triggering a near-term breakout trade. That trade will hit once ORIG clears some near-term overhead resistance at $16.52 with heavy volume.

Traders should now look for long-biased trades in ORIG once it sustains a move or close above $16.52 with volume that’s near or above 160.678 shares. If we get that action soon, then ORIG will have a great chance of re-testing and possibly taking out its next major overhead resistance levels at $17.43 to $18.26.

Shoe Carnival

Shoe Carnival (SCVL) is a family footwear retailer. The company offers customers an assortment of dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. This stock is trading up 3.4% at $22.89 in recent trading.

Today’s Volume: 132,000

Average Volume: 74,331

Volume % Change: 163%

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From a technical perspective, SCVL is moving notably higher here right off its 50-day moving average of $21.74 with above average volume. This move has pushed SCVL into breakout territory, since the stock has taken out some near-term overhead resistance at $22.34.

Traders should now look for long-biased trades once the next major breakout trade triggers for SCVL. That trade will hit once SVCL sustains a move or close above some near-term overhead resistance levels at $22.88 to $23.58 with high volume. Look for volume off that move that registers near or above 74,331 shares. At last check, SCVL has hit an intraday high of $22.89 and volume is well above 74,331 shares. If that breakout hits soon, then look for SCVL to trade north of $25.
P/>Sina

Sina (SINA) is an online media company serving China and the global Chinese communities. This stock is trading up 1% at $56.63 in recent trading.

Today’s Volume: 3 million
Average Volume: 2.7 million

Volume % Change: 57%

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From a technical perspective, SINA is moving modestly higher today right off some near-term support at $55 with above average volume. This move follows yesterday’s major gap up with huge volume after SINA reported earnings.

Traders should now look for long-biased trades in SINA once it manages to clear some near-term overhead resistance levels at $58.20 to $60.02, and then $61.41 with high volume. Look for a sustained move or close above those levels with volume that registers near or above 2.7 million shares. If that breakout triggers soon, then SINA will have a great chance of re-testing or possibly taking out its next major overheard resistance level at $65.79.

Bio-Reference Laboratories

Bio-Reference Laboratories (BRLI) is engaged in providing laboratory testing services, to customers in the greater New York metropolitan area, as well as to customers in other states. This stock is trading up 2.2% at $29.05 in recent trading.

Today’s Volume: 175,000

Average Volume: 218,206

Volume % Change: 50%

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From a technical perspective, BRLI is moving notably higher today with decent volume, and it has started to trigger a major breakout trade now that it’s taking out some near-term overhead resistance at $28.28.

Traders should continue to look for long-biased trades in BRLI as long as it’s trending above $28.28 to $27.21 with strong upside volume flows. I would consider any upside volume day that registers near or above 218,206 shares as bullish. If this trend holds for BRLI, then look for this stock to trade north of $30 in the near future.

Deckers Outdoor

Deckers Outdoor (DECK) is a designer, producer, marketer, and brand manager of footwear, apparel, and accessories. This stock is trading up 3% at $49.92 in recent trading.

Today’s Volume: 1.9 million

Average Volume: 1.7 million

Volume % Change: 50%

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From a technical perspective, DECK is pushing higher today with above average volume. This move follows yesterday’s spike which took DECK back above its 50-day moving average of $45.64 with heavy volume.

Traders should now look to play the next major breakout trade for DECK. That trade will trigger once DECK takes out some near-term overhead resistance levels at $48.41 to $49.75 with high volume. Look for volume off a sustained move or close above those levels that hits near or above 1,706,050 shares. At last check, DECK has hit an intraday high of $50.34 and volume is 1.94 million shares. This breakout is underway right now, and if it can hold, then look for DECK to re-test or possibly take out its next major overhead resistance levels at $54.88 to $59.07.

Finisar

Finisar (FNSR) is a provider of optical subsystems and components that is used in data communication and telecommunication applications. This stock is trading up 3.6% at $15.46 in recent trading.

Today’s Volume: 2.5 million

Average Volume: 2.6 million

Volume % Change: 50%

From a technical perspective, FNSR is spiking strongly to the upside today with decent volume. This move has started to push FNSR into breakout territory, since the stock is moving above some near-term overhead resistance levels at $15.10 to $15.32.

FinisarTraders should now look for long-biased trades as long as FNSR is trending above today’s low of $14.92 with strong upside volume flows. I would consider any upside volume day that registers near or above 2,585,830 shares as bullish. If $14.92 holds, and if FNSR can hold a decent rend above those breakout levels, then this stock will have a great chance of re-testing and possibly taking out its 200-day moving average of $16.96 in the near future.

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

-- Written by Roberto Pedone in Winderemere, Fla.


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

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.