Under Armour High Volume Day?

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 Under Armour, Inc. (NYSE:UA) early in the trading session. The pace in volume of Under Armour points to a break above average, with sellers in control, as the stock is 4.94% lower.

Under Armour, Inc. (NYSE:UA) develops, markets, and distributes branded performance products for men, women, and youth. The company offers products made from moisture-wicking synthetic fabrics designed to regulate body temperature and enhance performance regardless of weather conditions.

Under Armour has already traded 0.963 times its 3-month average volume and has calculated support and resistance at $88.60 and $101.07 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 Under Armour stock is underperforming the overall market.