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Trade-Ideas LLC identified
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Noble Corporation as such a stock due to the following factors:
- NE has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $183.0 million.
- NE has traded 840,274 shares today.
- NE is trading at 3.23 times the normal volume for the stock at this time of day.
- NE is trading at a new high 3.06% 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 NE:
Noble Corporation operates as an offshore drilling contractor for the oil and gas industry.
The average volume for Noble Corporation has been 3.8 million shares per day over the past 30 days. Noble has a market cap of $8.0 billion and is part of the basic materials sector and energy industry. The stock has a beta of 2.04 and a short float of 10.1% with 2.44 days to cover.