Calm waters presented 3 heavy volume marlins in stocks yesterday

Following yesterday's heightened trading volumes, Sasol Limited, HollyFrontier Corp, Occidental Petroleum Corporation were the standout stocks.

A quick recap of where the last trading session ended: Markets completed a mixed session yesterday, as Nasdaq closed the day at 11,576, having gained 0.4%. Dow Jones lost 0.18% and ended the session at 32,800.

Why trading volume matters?

Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.

While trading was mostly sideways yesterday, several energy stocks were actively traded. Here's an update:

Sasol | 151% above rolling average

After closing at $14.34 on Tuesday, Sasol Limited maintained a strong bullish bias that helped the stock close higher at $14.49 yesterday. However, market bears ensured the the integrated energy and chemical company topped out at $14.64 and that by the end of the session, the market had marked out a distinct $14.43 to $14.64 range.

Sasol outpaced its average daily trading volume (290,589) with 439,879 shares traded yesterday.

HollyFrontier | 119% slightly above rolling average

Trading volume was 4.78 million shares yesterday — beating the daily average by a mammoth 119%.

HollyFrontier has gained 6.73% over the past year, moving away from its yearly lows around $33.56. The stock has been trending positively for about a year.

Occidental Petroleum | 155% above rolling average

The US hydrocarbon explorer went up to $62.15, gaining 2.14%.

Trading volume peaked at 22.95 million shares yesterday, thereby obliterating the daily average of 14.83 million by 155%.

— Average trading volume refers to a 21-day rolling average.