Brocade - Above Average Volume Detected

Published on Wednesday, 01 September 2010 11:39 Written by Christian Paolinetti

New York, September 1st (TradersHuddle.com) - Unusual high volume detected on shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD), early in the trading session. Brocade is currently trading higher by 4.58%, so definitely the buyers stepping in, as the stock's volume is already above average.

Brocade Communications Systems, Inc. (NASDAQ:BRCD) provides switching solutions for storage area networks. Its family of SilkWorm switches enables a company to manage growth of its data storage requirements, improve the data transfer performance, and increase the size of its storage area networks.

Brocade has already traded 1.033 times its 3-month average volume, and has calculated support and resistance at $4.64 and $4.92 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 2.71% from its previous trading close, which means that Brocade stock is outperforming the overall market.