Trade-Ideas: Sunoco (SUN) Is Today's Strong On High Relative Volume Stock

Trade-Ideas LLC identified Sunoco (SUN) as a strong on high relative volume candidate
By TheStreet Wire ,

Trade-Ideas LLC identified

Sunoco

(

SUN

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

  • SUN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $13.9 million.
  • SUN has traded 61,167 shares today.
  • SUN is trading at 9.59 times the normal volume for the stock at this time of day.
  • SUN is trading at a new high 9.27% above yesterday's close.

'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into 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. 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 SUN:

Sunoco LP engages in the wholesale distribution and retail sale of motor fuels primarily in Texas, New Mexico, Oklahoma, Louisiana, Kansas, Maryland, Virginia, Tennessee, Georgia, and Hawaii. It operates through two segments, Wholesale and Retail. The stock currently has a dividend yield of 1.7%.

The average volume for Sunoco has been 1.8 million shares per day over the past 30 days. Sunoco has a market cap of $4.9 billion and is part of the basic materials sector and energy industry. The stock has a beta of 0.42 and a short float of 12.4% with 6.35 days to cover. Shares are up 14.1% year-to-date as of the close of trading on Wednesday.

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