American Electric Power Lower With High Volume

Published on Monday, 09 August 2010 11:49 Written by TradersHuddle Staff

New York, August 9th (TradersHuddle.com) - Unusual high volume detected on shares of American Electric Power Co., Inc. (NYSE:AEP), early in the trading session. American Electric Power is currently trading lower by 1.18%, so definitely the sellers in control, as the stock's volume is already above average.

American Electric Power Company, Inc.(NYSE:AEP) provides electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. AEP serves portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

American Electric Power has already traded 1.088 times its 3-month average volume, and has calculated support and resistance at $32.50 and $36.82 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 0.37% from its previous trading close, which means that American Electric Power stock is underperforming the overall market.