Airgas Lower With High Volume

Published on Tuesday, 07 September 2010 11:39 Written by TradersHuddle Staff

New York, September 7th (TradersHuddle.com) - Unusual high volume detected on shares of Airgas, Inc. (NYSE:ARG), early in the trading session. Airgas is currently trading lower by 1.21%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Airgas, Inc. (NYSE:ARG) distributes industrial, medical, and specialty gases and related equipment. The Company also produces and distributes liquid carbon dioxide and dry ice.

Airgas has already traded 0.957 times its 3-month average volume, and has calculated support and resistance at $59.26 and $65.14 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 lower by -0.78% from its previous trading close, which means that Airgas stock is underperforming the overall market.