Buyers Stepping In - Commercial Metals

Published on Wednesday, 18 April 2012 11:38 Written by TradersHuddle Wire

New York, April 18th (TradersHuddle.com) - Unusual high volume detected on shares of Commercial Metals Company (NYSE:CMC) early in the trading session. The pace in volume of Commercial Metals is already above average, with buyers stepping in, as the stock is 1.92% higher.

Commercial Metals Company (NYSE:CMC) and its subsidiaries manufacture, recycle, and market steel and metal products and related materials. The Company markets and trades primary and secondary metals, steel, ores, concentrates, industrial minerals, ferroalloys, chemicals, and other materials used in a variety of industries.

Commercial Metals has already traded 1.641 times its 3-month average volume and has calculated support and resistance at $14.10 and $15.12 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading lower by -0.41% from its previous trading close, which means that Commercial Metals stock is outperforming the overall market.