Trade Alert - Cabot Oil & Gas High Volume

Published on Thursday, 12 January 2012 11:38 Written by Christopher Lynn

New York, January 12th (TradersHuddle.com) - Unusual high volume detected on shares of Cabot Oil & Gas Corporation (NYSE:COG), early in the trading session. Cabot Oil & Gas is currently trading lower by 1.48%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Cabot Oil & Gas Corporation (NYSE:COG) is an independent oil and gas company that develops, explores, and extracts oil and gas in properties located in North America. The Company holds interests Appalachian Basin, onshore Gulf Coast, including south and east Texas and north Louisiana, the Rocky Mountains and the Anadarko Basin as well as in the deep gas basin of Western Canada.

Cabot Oil & Gas has already traded 0.943 times its 3-month average volume, and has calculated support and resistance at $71.18 and $83.14 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 -0.29% from its previous trading close, which means that Cabot Oil & Gas stock is underperforming the overall market.