Cardinal Health Higher With High Volume

Published on Thursday, 02 February 2012 11:38 Written by Christian Paolinetti

New York, February 2nd (TradersHuddle.com) - Unusual high volume detected on shares of Cardinal Health, Inc. (NYSE:CAH), early in the trading session. Cardinal Health is currently trading higher by 0.12%, so definitely the buyers stepping in, as the stock's volume is already above average.

Cardinal Health, Inc. (NYSE:CAH) provides products and services to healthcare providers and manufacturers. Its services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising.

Cardinal Health has already traded 1.166 times its 3-month average volume, and has calculated support and resistance at $40.01 and $44.49 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 higher by 0.23% from its previous trading close, which means that Cardinal Health stock is underperforming the overall market.