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.
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