AutoNation High Volume Day?

Published on Monday, 30 January 2012 11:38 Written by Christopher Lynn

New York, January 30th (TradersHuddle.com) - Unusual high volume detected on shares of AutoNation, Inc. (NYSE:AN), early in the trading session. AutoNation is currently trading lower by 0.87%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

AutoNation, Inc. (NYSE:AN) retails, finances, and services new and used vehicles. The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services.

AutoNation has already traded 0.859 times its 3-month average volume, and has calculated support and resistance at $31.91 and $38.27 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 AutoNation stock is underperforming the overall market.