High Above Average Volume on Tim Hortons
Published on Friday, 01 June 2012 11:38 Written by TradersHuddle Wire
New York, June 1st (TradersHuddle.com) - Unusual high volume detected on shares of Tim Hortons Inc. (NYSE:THI) early in the trading session. The pace in volume of Tim Hortons is already above average, with buyers stepping in, as the stock is 1.02% higher.
Tim Hortons Inc. (NYSE:THI) is a quick service restaurant operating in North America and Canada. Its offerings includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods. It directly owns and operates small number of company restaurants in Canada and the United States. The Company also have warehouse and distribution operations, which supplies paper and dry goods to the Canada-based restaurants, and supply frozen baked goods and some refrigerated products to the Ontario-based restaurants. In the United States, the Company supplies similar products to system restaurants through third-party distributors. The operations also include coffee roasting plants in Rochester, New York and Hamilton, Ontario, a joint-venture bakery, and a fondant and fills manufacturing facility.
Tim Hortons has already traded 1.357 times its 3-month average volume and has calculated support and resistance at $52.26 and $58.47 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 -1.9% from its previous trading close, which means that Tim Hortons stock is outperforming the overall market.
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