Trade-Ideas LLC identified

Pinnacle Entertainment

(

PNK

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

  • PNK has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $10.8 million.
  • PNK has traded 61,866 shares today.
  • PNK is trading at 2.87 times the normal volume for the stock at this time of day.
  • PNK is trading at a new high 5.25% 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 PNK:

As of April 28, 2016, Pinnacle Entertainment Inc was acquired by Gaming and Leisure Properties, Inc. Pinnacle Entertainment, Inc. owns, develops, and operates casinos and related hospitality and entertainment facilities in the United States. PNK has a PE ratio of 29.

The average volume for Pinnacle Entertainment has been 513,600 shares per day over the past 30 days. Pinnacle Entertainment has a market cap of $2.1 billion and is part of the services sector and leisure industry. Shares are up 51% year-to-date as of the close of trading on Friday.

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