Weak On High Volume: OFG Bancorp (OFG)

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

  • OFG has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.8 million
  • OFG has traded 115,460 shares today
  • OFG is trading at 4.71 times the normal volume for the stock at this time of day
  • OFG is trading at a new low 6.0427043813969998353741175378672778606414794921875 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.

EXCLUSIVE OFFER: Get the inside scoop on opportunities in OFG with the Ticky from Trade-Ideas. See the FREE profile for OFG NOW at Trade-Ideas

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OFG Bancorp (OFG) Strong On High Relative Volume Today