Harmony Gold Mining (HMY) Flagged As Strong On High Volume

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

  • HMY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $13.5 million.
  • HMY has traded 1.1 million shares today.
  • HMY is trading at 4.13 times the normal volume for the stock at this time of day.
  • HMY is trading at a new high 10.00% 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 HMY:

Harmony Gold Mining Company Limited engages in the exploration and mining of gold in South Africa and Papua New Guinea. The company also explores for copper, silver, uranium, and molybdenum deposits. Currently there are no analysts that rate Harmony Gold Mining a buy, no analysts rate it a sell, and 1 rates it a hold.

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