High Above Average Volume on Cincinnati Bell
Published on Friday, 04 May 2012 11:38 Written by TradersHuddle Wire
New York, May 4th (TradersHuddle.com) - Unusual high volume detected on shares of Cincinnati Bell Inc. (NYSE:CBB) early in the trading session. The pace in volume of Cincinnati Bell is already above average, with buyers stepping in, as the stock is 7.02% higher.
Cincinnati Bell Inc. (NYSE:CBB) is a provider of data and voice communications services over wireline and wireless networks and a provider of data center operations, related managed services and equipment. The Company provides telecommunications service to businesses and consumers in the Greater Cincinnati and Dayton areas primarily on its owned wireline and wireless networks. The Company also provides business customers with outsourced data center operations, including related managed services in data center facilities. The Company operates in three segments: Wireline, Wireless and Technology Solutions.
Cincinnati Bell has already traded 2.144 times its 3-month average volume and has calculated support and resistance at $3.48 and $3.84 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 -1.3% from its previous trading close, which means that Cincinnati Bell stock is outperforming the overall market.
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