Forest Laboratories Higher With High Volume

Published on Thursday, 02 September 2010 11:38 Written by Danny Miller

New York, September 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Forest Laboratories, Inc. (NYSE:FRX), early in the trading session. Forest Laboratories is currently trading higher by 5.1%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Forest Laboratories, Inc. (NYSE:FRX) develops, manufactures, and sells branded and generic forms of ethical drug products. The Company also manufactures non-prescription pharmaceutical products sold over-the-counter, which are used for the treatment of a wide range of illnesses.

Forest Laboratories has already traded 0.932 times its 3-month average volume, and has calculated support and resistance at $26.92 and $28.78 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 0.3% from its previous trading close, which means that Forest Laboratories stock is outperforming the overall market.