Trade Alert - PriceSmart High Volume

Published on Monday, 09 January 2012 11:38 Written by Christian Paolinetti

New York, January 9th (TradersHuddle.com) - Unusual high volume detected on shares of PriceSmart, Inc. (NASDAQ:PSMT), early in the trading session. PriceSmart is currently trading lower by 3.2%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

PriceSmart, Inc. (NASDAQ:PSMT) is the largest operator of membership warehouse clubs in Central America and the Caribbean. The company owns and licenses membership warehouse stores using the trade name PriceSmart. Its warehouse clubs sell consumer goods and perishable foods at low prices to individuals and businesses, as well as offers ancillary services, which include food courts, tire centers, and photo centers. PriceSmart was founded in 1994 and is headquartered in San Diego, California.

PriceSmart has already traded 0.772 times its 3-month average volume, and has calculated support and resistance at $66.29 and $72.79 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 -0.17% from its previous trading close, which means that PriceSmart stock is underperforming the overall market.