McDermott International (MDR): Today's Weak On High Volume Stock

Trade-Ideas LLC identified McDermott International (MDR) as a weak on high relative volume candidate
By TheStreet Wire ,

Trade-Ideas LLC identified

McDermott International

(

MDR

) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified McDermott International as such a stock due to the following factors:

  • MDR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $19.5 million.
  • MDR has traded 319,263 shares today.
  • MDR is trading at 2.55 times the normal volume for the stock at this time of day.
  • MDR is trading at a new low 3.09% below yesterday's close.

'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize (or avoid losses by trimming weak positions). In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on MDR:

McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.

The average volume for McDermott International has been 4.7 million shares per day over the past 30 days. McDermott International has a market cap of $1.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.67 and a short float of 17.7% with 11.48 days to cover.

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