Strong On High Volume: Goodrich Petroleum (GDP)

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

  • GDP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $10.3 million.
  • GDP has traded 630,178 shares today.
  • GDP is trading at 4.40 times the normal volume for the stock at this time of day.
  • GDP is trading at a new high 4.32% 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 GDP with the Ticky from Trade-Ideas. See the FREE profile for GDP NOW at Trade-Ideas

More details on GDP:

If you liked this article you might like

Jim Cramer's 2016 Predictions on Eli Lilly, IBM and More

Jim Cramer's 2016 Prediction: Eli Lilly Will Hit $100 a Share

If ConocoPhillips, Big Oil Win Export Vote, Expect Higher Gas, Oil Prices

How Many More Oil & Gas Companies Will File for Bankruptcy?

5 Energy Stocks Unfairly Tarred by Sliding Oil Prices