Sellers in Control - Phillips-Van Heusen

Published on Wednesday, 21 December 2011 11:38 Written by Christian Paolinetti

New York, December 21st (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 lower by 2.36%, so definitely the sellers in control, as the stock's volume is already above average.

Phillips-Van Heusen Corporation (NYSE:PVH) 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 1.066 times its 3-month average volume, and has calculated support and resistance at $66.96 and $75.40 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 -0.7% from its previous trading close, which means that Phillips-Van Heusen stock is underperforming the overall market.