Weak On High Volume: Sunesis Pharmaceuticals (SNSS)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Sunesis Pharmaceuticals ( SNSS) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Sunesis Pharmaceuticals as such a stock due to the following factors:

  • SNSS has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $6.0 million.
  • SNSS has traded 62,177 shares today.
  • SNSS is trading at 2.07 times the normal volume for the stock at this time of day.
  • SNSS is trading at a new low 3.03% below yesterday's close.

'Weak on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as material stock news, analyst downgrades, insider selling, selling from 'superinvestors,' or that hedge funds and traders are piling out of 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 (or avoid losses by trimming weak positions). 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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