Stock Quotes in this Article: CLH, CNI, MM, RKT, TIVO

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. 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.

 

TiVo

TiVo (TIVO) is a developer and provider of software and technology that enables the search, navigation, and access of content across sources, including linear television, on-demand television and broadband video. This stock is trading up 3.9% at $9.94 in recent trading.

Today’s Volume: 6.7 million

Average Volume: 2.05 million

Volume % Change: 517%

Shares of TIVO are soaring today after news broke that the company will receive at least $250.4 million from Verizon Communications (VZ) as part of a patent litigation settlement.

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From a technical perspective, TIVO is gapping up sharply here back above its 200-day moving average of $9.87 with heavy volume. This move has briefly pushed TIVO above some near-term overhead resistance at $10.14.

Traders should now look for long-biased trades in TIVO as long as it’s trending above $10.14 with high volume. Look for a sustained move or close above $10.14 with volume that’s near or above 2,049,130 shares. If TIVO can manage to sustain that trend, then look for this stock to re-test or possibly take out its next major overhead resistance levels at $11 to $12.

Big 5 Sporting Goods

Big 5 Sporting Goods (BGFV), together with its subsidiaries, operates as a sporting goods retailer in the western U.S. This stock is trading up 7.4% at $9.83 in recent trading.

Today’s Volume: 199,000

Average Volume: 89,481

Volume % Change: 369%

Shares of BGFV are soaring today after Piper Jaffray said it will be the biggest beneficiary out of the names it covers from improving economic trends in California. The firm reiterated its overweight rating and $12 price target.

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From a technical perspective, BGFV is gapping up strongly here with above-average volume above some near-term overhead resistance at $9.42. This high-volume move follows a large upside volume day from Friday that spiked the stock right off some near-term support at $8.

Traders should now look for long-biased trades in BGFV as long as it’s trending above $9.42 to $9.50 with strong upside volume flows. Look for a sustained move or close above those levels with volume that hits near or above 89,481 shares. If BGFV can hold that trend, then this stock has a great chance of re-testing or possibly taking out its next significant overhead resistance level at $11.24.

On the flip side, I would avoid BGFV or look for short-biased trades if it fails to hold that trend, and then drops below $8.93 with high volume.

Millennial Media

Millennial Media (MM) is a mobile advertising platform company. Millennial Media technology, tools and services help developers maximize their advertising revenue. This stock is trading up 5% at $15.78 in recent trading.

Today’s Volume: 792,000

Average Volume: 519,062

Volume % Change: 229%

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From a technical perspective, MM is bouncing solidly here right around some near-term support at $14 with above-average volume. This move is quickly pushing MM within range of triggering a major breakout trade. That trade will hit once MM manages to take out some key overhead resistance levels at $15.79 to $16.08 with high volume. At last check, MM has hit an intraday high of $16.49 and volume is well above its three-month average action of 519,062 shares.

Traders should now look for long-biased trades in MM as long as it’s trending above $15.79 to $16.08 with volume that’s near or above 519,062 shares. If MM can sustain that trend, then this stock has a great chance of re-testing or possibly taking out its next major overhead resistance levels at $18 to $20.

On the flip side, I would avoid MM or look for short-biased trades if it fails to hold that trend, and then drops below some near-term support at $13.80 with high volume.

Rock-Tenn

Rock-Tenn (RKT) is a manufacturer of packaging products, recycled paperboard, containerboard, bleached paperboard and merchandising displays. This stock is trading up 6% at $72.85 in recent trading.

Today’s Volume: 1.6 million

Average Volume: 962,108

Volume % Change: 283%

Shares of RKT are ripping higher today after Credit Suisse raised its price target on the stock to $82 from $73. The firm said reports indicate that containerboard producers successfully passed through a full $50 a ton price increase in September.

From a technical perspective, RKT is trending higher here with above-average volume. This move has also pushed RKT above some near-term overhead resistance at $70.51. This move is quickly pushing RKT within range of triggering a major breakout trade. That trade will hit once RKT manages to clear some past overhead resistance at $73.65 with high volume.

Traders should now look for long-biased trades in RKT as long as it’s trending above $70.51, and then once it sustains a move or close above $73.65 with volume that’s near or above 962,108 shares. If that breakout triggers soon, then RTK will have a great chance of re-testing or possibly taking out its next major overhead resistance level at $77.33.

Epocrates

Epocrates (EPOC) is a provider of mobile drug reference tools and electronic health records to healthcare professionals and interactive services to the healthcare industry. This stock is trading up 6.4% at $11.24 in recent trading.

Today’s Volume: 77,000

Average Volume: 76,688

Volume % Change: 105%

From a technical perspective, EPOC is gapping up strongly here with above-average volume. This move is coming after EPOC recently broke out above $9.23 with decent volume. Today’s action has also started to push EPOC into overbought territory, since its current relative strength index reading is now over 80. Overbought can always get more overbought, so that doesn’t mean the stock is due to pullback in the short-term.

Traders should now look for long-biased traders in EPOC once it manages to break out above today’s high of $11.60 with high volume. Look for a sustained move or close above $11.60 with volume that’s near or above 76,688 shares. If EPOC triggers that breakout, then look for this stock to hit $14 in the near-term.

Canadian National Railway

Canadian National Railway (CNI) is engaged in the rail and related transportation business. Canadian National Railway manages its rail operations in Canada and the U.S. This stock is trading up 1.2% at $89.20 in recent trading.

Today’s Volume: 660,000

Average Volume: 532,780

Volume % Change: 107%

From a technical perspective, CNI is bouncing modestly to the upside here right off some near-term support at $88 with above-average volume. This move is quickly pushing CNI within range of triggering a near-term breakout trade. That trade will hit once CNI manages to clear its 50-day moving average of $89.84 with high volume.

Traders should now look for long-biased trades in CNI as long as it’s trending above $88, and then once it sustains a move or close above $89.84 with volume that’s near or above 532,780 shares. If that breakout triggers soon, then CNI will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $92 to $94.83.

On the flip side, I would avoid CNI or look for short-biased trades if it fails to trigger that move, and then drops back below some key near-term support at $88.02 with high volume.

Clean Harbors

Clean Harbors (CLH) is a provider of environmental, energy and industrial services throughout North America. This stock is trading up 3.1% at $49.81 in recent trading.

Today’s Volume: 399,000

Average Volume: 537,695

Volume % Change: 55%

From a technical perspective, CLH is bouncing higher here off oversold levels with decent volume. During the last two months, this stock plunged from $61.99 to today’s low of $48.03 a share with a number of high-volume down days. That recent move has now pushed CLH into oversold territory, since its current RSI is now 33.

Traders should now look for long-biased traders in CLH if it can manage to break out above some near-term overhead resistance at $51 with high volume. Look for a sustained move or close above $51 with volume that’s near or above 537,695 shares. If that breakout triggers soon, then CLH could fill a previous gap back toward $53, or possibly even tag its 50-day moving average of $55.90.

On the flip side, I would avoid CLH or look for short-biased trades if it fails to trigger that move, and then drops back below today’s low of $48.03 with high volume.

Suburban Propane Partners

Suburban Propane Partners (SPH) is a nationwide marketer and distributor of a range of products meeting the energy needs of the customers. This stock is trading up 1.3% at $41.17 in recent trading.

Today’s Volume: 276,000

Average Volume: 355,470

Volume % Change: 62%

From a technical perspective, SPH is continuing to attract momentum buyers today after the stock recently broke out above $38.92 and its 50-day moving average of $39.57 with decent volume. This move is quickly pushing SPH within range of triggering another breakout trade. That trade will hit once SPH manages to clear its 200-day moving average of $40.98 with high volume. At last check, SPH has hit an intraday high of $41.16 and volume is a bit below its three-month average action of 355,470 shares.

Traders should now look for long-biased trades in SPH as long as it’s trending above $40.98 with strong upside volume flows. I would consider any upside volume day that registers near or above 355,470 shares as bullish. If SPH can sustain that trend, then this stock has a great chance of tagging $43 to $44.72 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.