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May 19, 2023
Terminix Global Holdings, Inc., Gates Industrial Corporation plc, Enel Américas S.A. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq gained 1.51% and closed at 12,700. S&P 500 closed the day at 4,198, having gained 0.94%.
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.
Price action was mostly bullish yesterday with some stocks recording abnormally high trading volumes. Here's a recap:
Terminix | 482% above rolling average
The pest control company has fallen back around 16.64% from the significant high of $45.66 set 9 months ago. Pointing downwards for around 7 months. With an average daily trading volume of 5.37 million shares.
Yesterday's trading volume was 25.88 million shares (surpassing the daily average by 482%).
Gates | 962% higher than rolling average
Trading volume was 11.60 million shares yesterday — beating the daily average by a mammoth 962%.
2 months ago the fluid power manufacturer reached a significant high of $14.41 but has consequently lost 16.31% since then.
Enel Americas | 3,026% above rolling average
With 32.43 million shares traded yesterday, Enel Americas beat its daily average by 3,026% to cap off a frenetic trading day.
Enel Americas hit a significant low of $3.88 around 10 months ago, but has since recovered 30.15%.
— Average trading volume refers to a 21-day rolling average.
