Trade-Ideas: Noble Corporation (NE) Is Today's Strong On High Relative Volume Stock
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 $115.1 million.
- NE has traded 685,844 shares today.
- NE is trading at 2.43 times the normal volume for the stock at this time of day.
- NE is trading at a new high 6.02% 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.
EXCLUSIVE OFFER: Get the inside scoop on opportunities in NE with the Ticky from Trade-Ideas. See the FREE profile for NE NOW at Trade-Ideas
More details on NE:
Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It owns and operates a fleet of mobile offshore drilling units.
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 10.6% with 3.78 days to cover.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
