High Above Average Volume on Stryker

Published on Thursday, 02 September 2010 11:46 Written by TradersHuddle Staff

New York, September 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Stryker Corporation (NYSE:SYK), early in the trading session. Stryker is currently trading higher by 1.43%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Stryker Corporation (NYSE:SYK) develops, manufactures, and markets specialty surgical and medical products. The company operates in two segments, Orthopaedic Implants and MedSurg Equipment. The Orthopedic Implants segment provides orthopaedic reconstructive, trauma, craniomaxillofacial, and spinal implant systems. The MedSurg Equipment segment offers surgical equipment; surgical navigation systems; endoscopic, communications, and digital imaging systems.

Stryker has already traded 0.752 times its 3-month average volume, and has calculated support and resistance at $42.74 and $48.26 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 Stryker stock is outperforming the overall market.