The highest volumes today go to: HollyFrontier Corp, Cabot Oil & Gas Corp, Continental Resources, Inc..
A short overview of the current market situation: The leading indices are slipping — Dow Jones slipping 1.44% and closing at 32,676. S&P 500 trades at 3,946 after losing 1.65%.
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.
Though trading was down yesterday, some energy stocks are currently at high volumes. Here is an update.
HollyFrontier | 119% higher than average
A blockbuster trading session for HollyFrontier Corp, eclipsing its average daily volume by 119% and recording 4.78 million.
The diversified energy company has recovered 21.61% since descending to a significant low of $29.34 around 11 months ago. The stock has been trending positively for about 11 months.
Cabot Oil & Gas Corp | 219% improvement so far today
A hectic day for Cabot Oil & Gas Corp, surpassing its average daily volume by 219% to reach 18.76 million.
Continental Resources trades at $74.27, after ending yesterday at $74.24.
— Average trading volume refers to a 21-day rolling average.