Trade Alert - Con-way High Volume

Published on Wednesday, 08 February 2012 11:38 Written by TradersHuddle Wire

New York, February 8th (TradersHuddle.com) - Unusual high volume detected on shares of Con-way Inc. (NYSE:CNW), early in the trading session. Con-way is currently trading lower by 0.16%, so definitely the sellers in control, as the stock's volume is on pace to break its average.

Con-way Inc. (NYSE:CNW) is a freight transportation and logistics company. The Company provides global supply chain solutions for manufacturing, industrial, retail, and governmenthas. It has businesses in less-than-truckload and full truckload freight services, expedite, brokerage, airfreight forwarding, logistics, warehousing, supply chain management, and trailer manufacturing.

Con-way has already traded 0.975 times its 3-month average volume, and has calculated support and resistance at $29.65 and $33.31 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 -0.3% from its previous trading close, which means that Con-way stock is outperforming the overall market.