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

  • SHIP has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $3.7 million.
  • SHIP has traded 147,457 shares today.
  • SHIP is trading at 133.15 times the normal volume for the stock at this time of day.
  • SHIP is trading at a new low 12.10% 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 SHIP:

Seanergy Maritime Holdings Corp., through its subsidiaries, provides seaborne transportation of dry bulk commodities. The company owns six Capesize and two Supramax vessels. Seanergy Maritime Holdings Corp. was formerly known as Seanergy Maritime Corp.

The average volume for Seanergy Maritime Holdings has been 4,000 shares per day over the past 30 days. Seanergy Maritime has a market cap of $8.9 million and is part of the services sector and transportation industry. The stock has a beta of 0.85 and a short float of 3.5% with 0.03 days to cover. Shares are down 31.4% year-to-date as of the close of trading on Monday.

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