High Above Average Volume on NiSource

Published on Wednesday, 01 September 2010 11:48 Written by Danny Miller

New York, September 1st (TradersHuddle.com) - Unusual high volume detected on shares of NiSource, Inc. (NYSE:NI), early in the trading session. NiSource is currently trading higher by 1.67%, so definitely the buyers stepping in, as the stock's volume is already above average.

NiSource Inc. (NYSE:NI), an energy holding company, thorugh its subsidiaries provide natural gas, electricity and other products and services to customers located within a corridor that runs from the Gulf Coast through the Midwest to New England.

NiSource has already traded 1.214 times its 3-month average volume, and has calculated support and resistance at $14.19 and $17.54 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 NiSource stock is underperforming the overall market.