Cabot Oil & Gas High Volume Day?

Published on Monday, 28 June 2010 11:40 Written by Christopher Lynn

New York, June 28th (TradersHuddle.com) - Unusual high volume detected on shares of Cabot Oil & Gas Corporation (NYSE:COG), early in the trading session. Cabot Oil & Gas is currently trading higher by 3.04%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Cabot Oil & Gas Corporation (NYSE:COG) is an independent oil and gas company that develops, explores, and extracts oil and gas in properties located in North America. The Company holds interests Appalachian Basin, onshore Gulf Coast, including south and east Texas and north Louisiana, the Rocky Mountains and the Anadarko Basin as well as in the deep gas basin of Western Canada.

Cabot Oil & Gas has already traded 0.753 times its 3-month average volume, and has calculated support and resistance at $33.48 and $38.72 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.2% from its previous trading close, which means that Cabot Oil & Gas stock is outperforming the overall market.