Kandi Technologies Group (KNDI) Highlighted As Weak On High Volume

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 Kandi Technologies Group ( KNDI) as a weak on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Kandi Technologies Group as such a stock due to the following factors:

  • KNDI has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $26.1 million.
  • KNDI has traded 481,874 shares today.
  • KNDI is trading at 2.98 times the normal volume for the stock at this time of day.
  • KNDI is trading at a new low 5.02% 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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More details on KNDI:

Kandi Technologies Group, Inc., through its subsidiaries, designs, develops, manufactures, and commercializes various vehicles.

The average volume for Kandi Technologies Group has been 2.8 million shares per day over the past 30 days. Kandi Technologies Group has a market cap of $713.7 million and is part of the consumer goods sector and automotive industry. The stock has a beta of 0.95 and a short float of 28.7% with 4.26 days to cover. Shares are up 63.7% year-to-date as of the close of trading on Friday.

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STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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