Buyers Stepping In - Saks | Tech-Corner

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Buyers Stepping In - Saks

Published on Thursday, 02 September 2010 11:46 Written by Christian Paolinetti

sks New York, September 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Saks, Inc. (NYSE:SKS), early in the trading session. Saks is currently trading higher by 6.74%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Saks, Inc. (NYSE:SKS) operates department stores in the United States under Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH (OFF 5th) brand names. The stores offer a wide variety of branded and private label merchandise including luxury apparel, shoes, accessories, cosmetics, and decorative home furnishings.

Saks has already traded 0.862 times its 3-month average volume, and has calculated support and resistance at $6.60 and $8.85 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 Saks stock is outperforming the overall market.

Saks Incorporated January Comparable Store Sales up 10.5% - Benzinga

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