Trade-Ideas LLC identified
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Zions Bancorp as such a stock due to the following factors:
- ZION has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $74.7 million.
- ZION has traded 1.4 million shares today.
- ZION is trading at 7.00 times the normal volume for the stock at this time of day.
- ZION 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.
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More details on ZION:
Zions Bancorporation, a financial holding company, provides a range of banking and related services in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The stock currently has a dividend yield of 0.9%. ZION has a PE ratio of 22.
The average volume for Zions Bancorp has been 3.3 million shares per day over the past 30 days. Zions has a market cap of $5.3 billion and is part of the financial sector and banking industry. The stock has a beta of 1.35 and a short float of 6.1% with 4.02 days to cover. Shares are down 4.8% year-to-date as of the close of trading on Monday.
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