TradersHuddle Scanner - High Volume For LDK Solar

Published on Thursday, 08 December 2011 11:38 Written by Christopher Lynn

New York, December 8th (TradersHuddle.com) - Unusual high volume detected on shares of LDK Solar Co. Ltd. (NYSE:LDK), early in the trading session. LDK Solar is currently trading higher by 5.14%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

LDK Solar Co. Ltd. (NYSE:LDK) is a manufacturer of multicrystalline solar wafers, which are the principal raw material used to produce solar cells. LDK sells multicrystalline wafers globally to manufacturers of photovoltaic products, including solar cells and solar modules. In addition, the company provides wafering services to monocrystalline and multicrystalline solar cell and module manufacturers.

LDK Solar has already traded 0.818 times its 3-month average volume, and has calculated support and resistance at $2.57 and $3.19 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 -1.12% from its previous trading close, which means that LDK Solar stock is outperforming the overall market.