Buyers Stepping In - Phillips-Van Heusen

Published on Wednesday, 08 September 2010 11:46 Written by Christopher Lynn

New York, September 8th (TradersHuddle.com) - Unusual high volume detected on shares of Phillips-Van Heusen Corporation (NYSE:PVH), early in the trading session. Phillips-Van Heusen is currently trading higher by 9.15%, so definitely the buyers stepping in, as the stock's volume is already above average.

Phillips-Van Heusen Corporation designs, sources, manufactures, and markets apparel and footwear for the whole family. The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. The company uses multibrand brand strategy to reach different markets, some of its brands include Arrow, Van-Heusen, Calvin Klein, IZOD, Geoffrey Beene, Kenneth Cole, and DKNY.

Phillips-Van Heusen has already traded 1.587 times its 3-month average volume, and has calculated support and resistance at $44.69 and $51.70 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 0.86% from its previous trading close, which means that Phillips-Van Heusen stock is outperforming the overall market.