Sellers in Control - Priceline.com
Published on Thursday, 17 May 2012 11:38 Written by TradersHuddle Wire
New York, May 17th (TradersHuddle.com) - Unusual high volume detected on shares of Priceline.com Incorporated (NASDAQ:PCLN) early in the trading session. The pace in volume of Priceline.com is already above average, with sellers in control, as the stock is 0.01% lower.
Priceline.com Incorporated (NASDAQ:PCLN) operates as an online travel company that enables consumers to save money on a variety of products and services. The Company allows customers to name their own price on products or services and communicates that demand directly to participating sellers or to their private databases. Participants include domestic and international airlines, and hotel chains.
Priceline.com has already traded 1.106 times its 3-month average volume and has calculated support and resistance at $705.01 and $772.35 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 -0.45% from its previous trading close, which means that Priceline.com stock is outperforming the overall market.