High Above Average Volume on Starwood Hotels

Published on Thursday, 26 April 2012 11:38 Written by TradersHuddle Wire

New York, April 26th (TradersHuddle.com) - Unusual high volume detected on shares of Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) early in the trading session. The pace in volume of Starwood Hotels is already above average, with buyers stepping in, as the stock is 1.35% higher.

Starwood Hotels & Resorts Worldwide, Inc. (NYSE:HOT) owns, manages, and franchises luxury and upscale hotels throughout the world. The Company also develops and operates vacation interval ownership resorts.

Starwood Hotels has already traded 1.002 times its 3-month average volume and has calculated support and resistance at $55.97 and $59.05 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 higher by 0.13% from its previous trading close, which means that Starwood Hotels stock is outperforming the overall market.