Trade Alert - AmerisourceBergen High Volume

Published on Thursday, 26 January 2012 11:38 Written by TradersHuddle Staff

New York, January 26th (TradersHuddle.com) - Unusual high volume detected on shares of AmerisourceBergen Corporation (NYSE:ABC), early in the trading session. AmerisourceBergen is currently trading lower by 1.61%, so definitely the sellers in control, as the stock's volume is already above average.

AmerisourceBergen Corporation (NYSE:ABC) is a pharmaceutical services company. The Company distributes pharmaceutical products and services. AmerisourceBergen distributes an offering of brand name and generic pharmaceuticals, over-the-counter healthcare products, and home healthcare supplies and equipment. AmerisourceBergen also provides pharmacy management, staffing and other consulting services.

AmerisourceBergen has already traded 1.041 times its 3-month average volume, and has calculated support and resistance at $35.56 and $40.22 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 -0.16% from its previous trading close, which means that AmerisourceBergen stock is underperforming the overall market.