Stock Quotes in this Article: BMRN, LOGI, NDAQ, VMED, GRPN

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.”

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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.

BioMarin Pharmaceutical

BioMarin Pharmaceutical (BMRN) develops and commercializes pharmaceuticals for serious diseases and medical conditions. This stock is trading up 1.2% at $37.05 in recent trading.

Today’s Volume: 824,000

Average Volume: 1.05 million

Volume % Change: 69%

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From a technical perspective, BMRN is bouncing off some near-term support here at around $36 to $35.50 with decent volume. This stock is now trending just a few points off a major breakout trade. That trade will trigger once BMRN can manage to take out some overhead resistance and its 52-week high of $39.20 with high volume.

Traders should look for long-biased trades if BMRN can sustain a move or close over $39.20 with volume that’s near or above 1,051,880 shares. If we get that action soon, then BMRN should easily trade up into the mid-$40s.

Logitech International

Logitech International (LOGI) develops and markets hardware and software products for digital navigation, music and video entertainment, gaming, social networking, audio and video communication over the Internet, video security and home-entertainment control. This stock is trading up 5.3% at $11.22 in recent trading.

Today’s Volume: 874,000

Average Volume: 769,390

Volume % Change: 108%

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From a technical perspective, LOGI is ripping higher here on above average volume as this stock follows through with its recent breakout over $10.55 to $10.84. The recent strength in this stock has pushed LOGI into overbought territory since its current relative strength index reading is 78.12. That said, overbought can always get more overbought before any noticeable pullback will occur.

Traders should continue to look for long-biased trades in LOGI as long as it’s trending above $10.55 to $10.84 with decent upside volume flows. I would consider any upside volume days that are near or above 769,390 shares as bullish. If we continue to see that action, then LOGI should easily re-test its next major significant overhead resistance levels at $12.09 to $13.36.

Nasdaq OMX Group

Nasdaq OMX Group (NDAQ) is a global exchange group that delivers trading, clearing, exchange technology, regulatory, securities listing, and public company services across six continents. This stock is trading up 1.46% at $22.31 in recent trading.

Today’s Volume: 3.4 million

Average Volume: 2.2 million

Volume % Change: 179%

From a technical perspective, NDAQ is bouncing off of oversold territory here with heavy volume. This stock’s current relative strength index reading is 29.85, which indicates an oversold condition. Oversold can always get more oversold, but traders can now monitor NDAQ for a rebound trade if it continues to get strong upside volume flows.

Traders should look for long-biased trades if NDAQ can sustain a move or close above $23 with volume that’s near or above 2.2 million shares. If we get that move, then NDAQ could bounce back towards its 200-day moving average of $24.80 or higher in the near future. On the flipside, I would look for short-biased trades if it fails to take out $23 or drops below today’s low of $21.58 with strong volume.

Nasdaq OMX Group was included on a list of 10 Top Morningstar M&A Stock Picks for 2012.

Genomic Health

Genomic Health (GHDX) is a molecular diagnostics company focused on the global development and commercialization of genomic-based clinical laboratory services that analyze the underlying biology of cancer allowing physicians and patients to make individualized treatment decisions. This stock is trading up 2.5% at $32.44 in recent trading.

Today’s Volume: 154,000

Average Volume: 158,132

Volume % Change: 91%

From a technical perspective, GHDX recently broke out above $32 with monster volume. Following that breakout, this stock ran up and tagged $35 very quickly. Now GHDX has pulled back off of $35 to just below that breakout level at $31.37 at today’s low print.

Traders should now look for long-biased trades if GHDX manages to take out some near-term overhead resistance at $33 with volume. Look for a sustained move or close over $33 with volume that’s near or above 158,132 shares. If we get that action soon, look for GHDX to re-test $35 and potentially take it out and trend much higher.

On the flipside, I would look for short-biased trades if GHDX fails to trigger that move over $33, and then takes out its 50-day moving average of $30.05 with strong volume.

Tech Data

Tech Data (TECD) is a wholesale distributor of technology products. This stock is trading up 2.1% at $48.49 in recent trading.

Today’s Volume: 348,000

Average Volume: 403,968

Volume % Change: 69%

Shares of TECD are moving modestly higher today after the company reported earnings that beat Wall Street estimates by 7 cents per share but missed on revenue.

From a technical perspective, TECD has hit just below its 200-day moving average of $49.92 here on decent volume. At last check, the stock has pulled back off that area and is now trending at around $48.50.

Traders should now only look for long-biased trades in TECD if it can manage to sustain a move or close above its 200-day with high-volume. Look for volume off that move that’s near or above 403,968 shares. If we get that action, look for TECD to hit $52 to its 50-day moving average of $53.02.

Keep in mind that TECD has to be trending over its 200-day to have a chance at those targets with strong upside volume flows.

Volterra Semiconductor

Volterra Semiconductor (VLTR) designs, develops and markets analog and mixed-signal power management semiconductors for the computing, storage, networking, and consumer markets. This stock is trading up 3.1% at $31.18 in recent trading.

Today’s Volume: 223,000

Average Volume: 279,265

Volume % Change: 56%

From a technical perspective, VLTR is ripping sharply higher here with decent volume. This move is quickly pushing VLTR within range of a breakout trade. That trade will hit once VLTR takes out its 50-day moving average of $31.90 with high-volume.

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Traders should now look for long-biased trades if VLTR can sustain a move or close over $31.90 with volume that’s near or above 279,265 shares. If we get that action soon, look for VLTR to re-test its next near-term overhead resistance levels at $33.39 to its 52-week high of $34.87.

On the flipside, I would look for short-biased trades if VLTR fails to take out its 50-day, and then moves back below some near-term support at $28.79 with heavy volume.

Groupon

Groupon (GRPN) is a local e-commerce marketplace that connects merchants to consumers by offering goods and services at a discount. This stock is trading up 7.9% at $12.50 in recent trading.

Today’s Volume: 4.4 million

Average Volume: 3.2 million

Volume % Change: 108%

From a technical perspective, GRPN is ripping significantly higher here on above average volume. This move is quickly pushing GRPN within range of triggering a near-term breakout trade. That trade will hit once GRPN takes out some near-term overhead resistance at just above $13, and then its 50-day moving average of $13.71 with high-volume.

Traders should look for long-biased trades if GRPN can trigger that move on volume that’s near or above 3,191,230 shares. If we get that action soon, then GRPN will have a great chance of challenging and possibly taking out some major overhead resistance at $14.93.

On the flipside, I would look for short-biased trades if GRPN fails to sustain a move or close above its 50-day at $13.71.

I also featured Groupon, one of Maverick Capital's holdings, last week in "8 Stocks Set to Soar off Facebook's IPO."

Virgin Media

Virgin Media (VMED) is engaged in entertainment and communications business. This stock is trading up 3.1% at $22.15 in recent trading.

Today’s Volume: 2.55 million

Average Volume: 3.26 million

Volume % Change: 54%

From a technical perspective, VMED is bouncing here right near some previous support at $21.25 with decent volume. This move is pushing VMED within range of a near-term breakout trade. That trade will trigger once VMED takes out some near-term overhead resistance at $22.73 with high-volume.

Traders should now look for long-biased trades if VMED can sustain a move or close above $22.73 with volume that’s near or above 3,255,680 shares. If we get that action soon, then look for VMED to re-test its 50-day moving average of $23.90 or possibly trend much higher.

On the flipside, I would look for short-biased trades if VMED fails to trigger that breakout, and then takes out some near-term support zones at $21.25 to $20.48 with high volume.

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

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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.