MeadWestvaco - Above Average Volume Detected

Published on Wednesday, 18 January 2012 11:38 Written by TradersHuddle Staff

New York, January 18th (TradersHuddle.com) - Unusual high volume detected on shares of MeadWestvaco Corporation (NYSE:MWV), early in the trading session. MeadWestvaco is currently trading lower by 1.89%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

MeadWestvaco Corporation (NYSE:MWV) is a global packaging company that provides packaging solutions to the healthcare, personal and beauty care, food, beverage, tobacco, media and entertainment, and home and garden industries. Its other operations serve the consumer and office products, specialty chemicals, forestry and real estate markets.

MeadWestvaco has already traded 0.802 times its 3-month average volume, and has calculated support and resistance at $29.13 and $31.07 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 0.55% from its previous trading close, which means that MeadWestvaco stock is underperforming the overall market.