Buyers Stepping In - Flowers Foods
Published on Thursday, 31 May 2012 11:38 Written by TradersHuddle Wire
New York, May 31st (TradersHuddle.com) - Unusual high volume detected on shares of Flowers Foods, Inc. (NYSE:FLO) early in the trading session. The pace in volume of Flowers Foods is already above average, with buyers stepping in, as the stock is 5.86% higher.
Flowers Foods, Inc. (NYSE:FLO) produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products as well as pastries, doughnuts and bakery snack products. Flowers markets its products using several national, regional and local brand names, such as Nature's Own, Whitewheat, ButterKrust, and Sunbeam.
Flowers Foods has already traded 2.006 times its 3-month average volume and has calculated support and resistance at $19.40 and $21.66 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 -0.91% from its previous trading close, which means that Flowers Foods stock is outperforming the overall market.
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