High Above Average Volume on Saks

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High Above Average Volume on Saks

Published on Tuesday, 10 January 2012 11:38 Written by Christian Paolinetti

sks New York, January 10th (TradersHuddle.com) - Unusual high volume detected on shares of Saks, Inc. (NYSE:SKS), early in the trading session. Saks is currently trading lower by 3.31%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Saks, Inc. (NYSE:SKS) operates department stores in the United States under Saks Fifth Avenue and Saks Fifth Avenue OFF 5TH (OFF 5th) brand names. The stores offer a wide variety of branded and private label merchandise including luxury apparel, shoes, accessories, cosmetics, and decorative home furnishings.

Saks has already traded 0.769 times its 3-month average volume, and has calculated support and resistance at $9.50 and $10.20 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 1.08% from its previous trading close, which means that Saks stock is underperforming the overall market.

UPDATE: Saks Q1 Profit Up 13% - Benzinga
Notable Put Options Activity in Saks - Benzinga
Saks Incorporated Stock Upgraded (SKS) - TheStreet.com
Saks Up 4% After Beating Earnings Estimates - Benzinga
UPDATE: Saks Posts Rise In Q4 Net Profit - Benzinga
Saks Incorporated January Comparable Store Sales up 10.5% - Benzinga

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