These stocks witness huge volume burst in the last leg of the trading session!
Glaxo SmithKline, SJVN, and GNFC have witnessed volume burst in the last 75 minutes of the trade.
As the saying goes, the first, as well as the last hour of each trading session, is the most important and active in terms of price & volume.
More so, the activity in the last hour is said to be of utmost importance because most of the pro-traders and institutions are active at this time. Hence, when a stock sees a good spike in volume in the last leg of the trade along with price rise, it is considered a pro, and institutions have a keen interest in the stock. Market participants should keep a close watch on these stocks as they can witness good momentum in the short to medium-term.
So, based on this principle, we have shortlisted three stocks that have witnessed volume burst in the last leg of the trade along with price rise.
Glaxo SmithKline: The stock showed an amazing recovery from the day’s low and surged about 1.37% at the end of the day. In the last hour of the trade, the stock recorded about 63% of the total day’s volume. With strong buying emerging in the end, the stock is likely to be trading higher in the coming days.
SJVN: The stock soared over 1.22% on Wednesday. It traded firmly in green throughout the day and volumes increased hugely towards the end. Moreover, the stock formed a strong bullish candle. With the stock closing at a day’s high, it is expected to be traded heavily with a positive bias.
GNFC: The stock formed a strong green candle on the daily timeframe. In the last 75 minutes, it soared higher by about 3%. Such strong price action was accompanied by above-average volumes recorded during this period, which were greater than the 10-period and 30-period average volume. We can expect the stock to be traded heavily in the coming days.
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