Nexen Above Average Volume

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Nexen Above Average Volume

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

nxy New York, January 10th (TradersHuddle.com) - Unusual high volume detected on shares of Nexen Inc. (NYSE:NXY), early in the trading session. Nexen is currently trading higher by 9.4%, so definitely the buyers stepping in, as the stock's volume is already above average.

Nexen Inc. (NYSE:NXY), operates as an energy company and explores for, develops, produces and markets crude oil, natural gas and power. Its oil and gas exploration and development activities are conducted in the North Sea, Canada, Gulf of Mexico, offshore West Africa, and Yemen. Nexen is headquartered in Calgary, Canada.

Nexen has already traded 1.001 times its 3-month average volume, and has calculated support and resistance at $13.63 and $17.19 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 higher by 1.08% from its previous trading close, which means that Nexen stock is outperforming the overall market.

UPDATE: Canaccord Genuity Upgrades Nexen - Benzinga
Benzinga's Top Upgrades - Benzinga
Nexen Q1 Profit Drops 15% - Benzinga
Nexen Stock To Go Ex-dividend Tomorrow (NXY) - TheStreet.com
Nexen Announces First Oil at Usan - Benzinga
UPDATE: Raymond James Upgrades Nexen To Outperform - Benzinga
Nexen Posts Decline In Q4 Profit - Benzinga
BMO Capital Markets Upgrades Nexen from Market Perform to Outperform, Raises PT from $18 to $21 - Benzinga
Nexen Stock Hits New 52-Week Low (NXY) - TheStreet.com
Nexen Stock To Go Ex-dividend Tomorrow (NXY) - TheStreet.com

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