Buyers Stepping In - Hittite Microwave
Published on Tuesday, 01 May 2012 11:38 Written by TradersHuddle Wire
New York, May 1st (TradersHuddle.com) - Unusual high volume detected on shares of Hittite Microwave Corporation (NASDAQ:HITT) early in the trading session. The pace in volume of Hittite Microwave is already above average, with buyers stepping in, as the stock is 1.32% higher.
Hittite Microwave Corporation (NASDAQ:HITT) designs and develops high performance integrated circuits, modules, subsystems and instrumentation for technically demanding radio frequency, microwave and millimeterwave applications covering the frequency range of DC to 110 GHz. Its products include power amplifiers, switches, modulators, converters, and phase shifters.
Hittite Microwave has already traded 1.609 times its 3-month average volume and has calculated support and resistance at $48.33 and $55.45 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 0.99% from its previous trading close, which means that Hittite Microwave stock is outperforming the overall market.
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