Quicksilver Resources Higher With High Volume

Published on Wednesday, 09 May 2012 11:38 Written by TradersHuddle Wire

New York, May 9th (TradersHuddle.com) - Unusual high volume detected on shares of Quicksilver Resources Inc. (NYSE:KWK) early in the trading session. The pace in volume of Quicksilver Resources is already above average, with buyers stepping in, as the stock is 0.65% higher.

Quicksilver Resources Inc. (NYSE:KWK) is an exploration and production company engaged in the development and production of long-lived natural gas and oil properties onshore North America. Based in Fort Worth, Texas, the company is widely recognized as a leader in the development and production of natural gas from unconventional reservoirs including shale gas, coal bed methane and tight gas sands.

Quicksilver Resources has already traded 2.105 times its 3-month average volume and has calculated support and resistance at $4.19 and $5.06 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 -0.47% from its previous trading close, which means that Quicksilver Resources stock is outperforming the overall market.