High Above Average Volume on JA Solar

Published on Friday, 13 January 2012 11:38 Written by TradersHuddle Staff

New York, January 13th (TradersHuddle.com) - Unusual high volume detected on shares of JA Solar Holdings Co., Ltd. (NASDAQ:JASO), early in the trading session. JA Solar is currently trading lower by 6.44%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

JA Solar Holdings Co., Ltd. (NASDAQ:JASO), through its subsidiaries, engages in the design, manufacture, and marketing of high-performance solar cells. The company sells its products to solar module manufacturers who assemble and integrate solar cells into modules and systems that convert sunlight into electricity for power generation. JA Solar is based in Shanghai, China.

JA Solar has already traded 0.943 times its 3-month average volume, and has calculated support and resistance at $1.30 and $1.40 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 -0.76% from its previous trading close, which means that JA Solar stock is underperforming the overall market.