Sellers in Control - Vmware
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 VMware, Inc. (NYSE:VMW) early in the trading session. The pace in volume of Vmware is already above average, with sellers in control, as the stock is 3.82% lower.
VMware, Inc. (NYSE:VMW) provides virtualization solutions for the desktop computer and data centers. Its solution products address a range of IT problems, which include cost and operational inefficiencies, business continuity, software lifecycle management and desktop management.
Vmware has already traded 1.064 times its 3-month average volume and has calculated support and resistance at $92.86 and $103.05 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 Vmware stock is underperforming the overall market.
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