Buyers Stepping In - UTi Worldwide

Published on Thursday, 02 September 2010 11:46 Written by Danny Miller

New York, September 2nd (TradersHuddle.com) - Unusual high volume detected on shares of UTi Worldwide Inc. (NASDAQ:UTIW), early in the trading session. UTi Worldwide is currently trading higher by 4.95%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

UTi Worldwide Inc. (NASDAQ:UTIW) is an international, non-asset-based supply chain services and solutions company. Its services include air and ocean freight forwarding, contract logistics, customs brokerage, distribution, inbound logistics, truckload brokerage and other supply chain management services, including consulting, the coordination of purchase orders and customized management services.

UTi Worldwide has already traded 0.983 times its 3-month average volume, and has calculated support and resistance at $13.57 and $14.52 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 UTi Worldwide stock is outperforming the overall market.