Trade Alert - Allergan High Volume

Published on Tuesday, 31 January 2012 11:38 Written by Christopher Lynn

New York, January 31st (TradersHuddle.com) - Unusual high volume detected on shares of Allergan Inc. ( NYSE:AGN), early in the trading session. Allergan is currently trading lower by 0.86%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Allergan, Inc. ( NYSE:AGN) is a multi-specialty health care company that develops and commercializes pharmaceuticals, biologics and medical devices. The company develops products for the ophthalmic, neurological, medical aesthetics, breast aesthetics, obesity intervention, urological and other specialty markets in countries around the world.

Allergan has already traded 0.769 times its 3-month average volume, and has calculated support and resistance at $78.42 and $88.81 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 -0.31% from its previous trading close, which means that Allergan stock is underperforming the overall market.