High Above Average Volume on Zion

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High Above Average Volume on Zion

Published on Tuesday, 20 July 2010 11:48 Written by Christian Paolinetti

zion New York, July 20th (TradersHuddle.com) - Unusual high volume detected on shares of Zions Bancorporation (NASDAQ:ZION), early in the trading session. Zion is currently trading lower by 8.22%, so definitely the sellers in control, as the stock's volume is already above average.

Zions Bancorporation (NASDAQ:ZION) is a bank holding company that operates full-service banking offices in western United States. The collection of regional banks also offers an array of investment, mortgage, insurance, and electronic commerce services.

Zion has already traded 1.243 times its 3-month average volume, and has calculated support and resistance at $20.42 and $24.39 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 -0.29% from its previous trading close, which means that Zion stock is underperforming the overall market.

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