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TradersHuddle Scanner - High Volume For Sony

Published on Friday, 03 February 2012 11:38 Written by Danny Miller

sne New York, February 3rd (TradersHuddle.com) - Unusual high volume detected on shares of Sony Corporation (NYSE:SNE), early in the trading session. Sony is currently trading higher by 11.88%, so definitely the buyers stepping in, as the stock's volume is already above average.

Sony Corporation (NYSE:SNE) manufactures video, audio, video game consoles, cameras, communications, and information technology products for the consumer and professional markets. The company also psticipates in other businesses like music, movies, computer entertainment, and online businesses.

Sony has already traded 1.726 times its 3-month average volume, and has calculated support and resistance at $16.75 and $18.75 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 1.3% from its previous trading close, which means that Sony stock is outperforming the overall market.

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