High Above Average Volume on Delta

Published on Wednesday, 25 January 2012 11:38 Written by Christopher Lynn

New York, January 25th (TradersHuddle.com) - Unusual high volume detected on shares of Delta Air Lines, Inc. (NYSE:DAL), early in the trading session. Delta is currently trading higher by 8.53%, so definitely the buyers stepping in, as the stock's volume is already above average.

Delta Air Lines, Inc. (NYSE:DAL) provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally. The company has major hubs in Atlanta, Cincinnatti, Detroit, Salt Lake City, New Jork, Tokyo and Amsterdam.

Delta has already traded 1.244 times its 3-month average volume, and has calculated support and resistance at $7.83 and $9.56 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 -0.09% from its previous trading close, which means that Delta stock is outperforming the overall market.