Trade-Ideas LLC identified

Innoviva

(

INVA

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

  • INVA has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $5.7 million.
  • INVA has traded 74,522 shares today.
  • INVA is trading at 4.85 times the normal volume for the stock at this time of day.
  • INVA is trading at a new high 6.03% 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 INVA:

Innoviva, Inc. engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products includes RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI). The stock currently has a dividend yield of 8.3%.

The average volume for Innoviva has been 699,600 shares per day over the past 30 days. Innoviva has a market cap of $1.4 billion and is part of the health care sector and drugs industry. The stock has a beta of 2.59 and a short float of 89.6% with 49.58 days to cover. Shares are up 11.4% year-to-date as of the close of trading on Tuesday.

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