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Trade Alert - AMR High Volume

Published on Tuesday, 03 January 2012 11:38 Written by TradersHuddle Staff

amr New York, January 3rd (TradersHuddle.com) - Unusual high volume detected on shares of AMR Corporation (NYSE:AMR), early in the trading session. AMR is currently trading lower by 16.4%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

AMR Corporation (NYSE:AMR) operates and owns an airline that provides scheduled passenger, freight, and mail service throughout North America, the Caribbean, Latin America, Europe, and the Pacific. The Fort Worth, Texas based company also provides aviation services, call center management services, and investment advisory services.

AMR has already traded 0.839 times its 3-month average volume, and has calculated support and resistance at $0.48 and $0.78 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 1.98% from its previous trading close, which means that AMR stock is underperforming the overall market.

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