High Above Average Volume on JA Solar

Published on Thursday, 19 January 2012 11:38 Written by Christian Paolinetti

New York, January 19th (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 higher by 6.64%, so definitely the buyers stepping in, as the stock's volume is already above 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 1.321 times its 3-month average volume, and has calculated support and resistance at $1.30 and $2.04 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 0.49% from its previous trading close, which means that JA Solar stock is outperforming the overall market.