TradersHuddle Scanner - High Volume For Smithfield Foods

Published on Tuesday, 29 June 2010 11:42 Written by TradersHuddle Staff

New York, June 29th (TradersHuddle.com) - Unusual high volume detected on shares of Smithfield Foods, Inc. (NYSE:SFD), early in the trading session. Smithfield Foods is currently trading higher by 5.24%, so definitely the buyers stepping in, as the stock's volume is already above average.

Smithfield Foods, Inc. (NYSE:SFD) engages in the production and marketing of fresh meat and packaged meat products. The company processes pork and produces hogs through its meat processing and hog production groups. Smithfield also produces and markets a range of branded food products such as frozen barbecues and chilies, peanuts, and pork products.

Smithfield Foods has already traded 1.186 times its 3-month average volume, and has calculated support and resistance at $14.7301 and $17.72 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 lower by -2.39% from its previous trading close, which means that Smithfield Foods stock is outperforming the overall market.