Charming Shoppes High Volume Day?

Published on Wednesday, 01 September 2010 11:47 Written by Christian Paolinetti

New York, September 1st (TradersHuddle.com) - Unusual high volume detected on shares of Charming Shoppes, Inc. (NASDAQ:CHRS), early in the trading session. Charming Shoppes is currently trading lower by 13.06%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Charming Shoppes, Inc. (NASDAQ:CHRS) is a multi-brand specialty apparel retailer primarily focused on plus-size women's apparel. The company retails using three distinct store brands - Lane Bryant, Fashion Bug and Catherines Plus Sizes.

Charming Shoppes has already traded 0.904 times its 3-month average volume, and has calculated support and resistance at $3.20 and $3.94 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 Charming Shoppes stock is underperforming the overall market.