High Above Average Volume on Alaska Air

Published on Monday, 30 January 2012 11:38 Written by Danny Miller

New York, January 30th (TradersHuddle.com) - Unusual high volume detected on shares of Alaska Air Group, Inc. (NYSE:ALK), early in the trading session. Alaska Air is currently trading higher by 2.54%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Alaska Air Group, Inc. (NYSE:ALK) is an airline holding company. The Company, through its subsidiaries, provides air service to passengers in multiple destinations. Alaska Air also provide freight and mail services, primarily to and within the state of Alaska and on the West Coast.

Alaska Air has already traded 0.906 times its 3-month average volume, and has calculated support and resistance at $71.19 and $77.15 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 -0.69% from its previous trading close, which means that Alaska Air stock is outperforming the overall market.