Scorpio Bulkers (SALT) Strong On High Relative Volume Today

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.

Trade-Ideas LLC identified Scorpio Bulkers ( SALT) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Scorpio Bulkers as such a stock due to the following factors:

  • SALT has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $2.9 million.
  • SALT has traded 503,699 shares today.
  • SALT is trading at 4.37 times the normal volume for the stock at this time of day.
  • SALT is trading at a new high 5.28% 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 SALT:

Scorpio Bulkers Inc., together with its subsidiaries, engages in the marine transportation of dry bulk commodities. Its fleet transports a range of major and minor bulk commodities, including ores, coal, grains, and fertilizers along worldwide shipping routes.

The average volume for Scorpio Bulkers has been 824,200 shares per day over the past 30 days. Scorpio Bulkers has a market cap of $1.3 billion and is part of the services sector and transportation industry.

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