TradersHuddle Scanner - High Volume For Watsco

Published on Monday, 04 June 2012 11:38 Written by TradersHuddle Wire

New York, June 4th (TradersHuddle.com) - Unusual high volume detected on shares of Watsco, Inc. (NYSE:WSO) early in the trading session. The pace in volume of Watsco is already above average, with sellers in control, as the stock is 1.81% lower.

Watsco, Inc. (NYSE:WSO) distributes air conditioning, heating, and refrigeration equipment, as well as related parts and supplies. The Company operates various locations in the United States, with primary markets in the Sunbelt.

Watsco has already traded 1.655 times its 3-month average volume and has calculated support and resistance at $66.01 and $74.02 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 -0.32% from its previous trading close, which means that Watsco stock is underperforming the overall market.