Nexen Trading Higher Today on Above-Average Volume, Consistent With Trend (NXY)
Shares of Nexen are trading today in above average volume, with the share price rising 14.4% to $26.90. About 42.6 million shares have been traded today, as compared to the 30-day average volume of 10.1 million shares. Unusually high volume can signify a potential turning point or validate a breakout.
SmarTrend recommended that subscribers consider buying shares of Nexen on June 29th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $17.13. Since that recommendation, shares of Nexen have risen 37.3%. We continue to monitor NXY for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Nexen have traded between a low of $13.63 and a high of $26.98 and are now at $26.93, which is 98% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has risen 0.4%.
Keywords: unusual volume nexen