Cinemark - Above Average Volume Detected
Published on Friday, 08 June 2012 11:38 Written by TradersHuddle Wire
New York, June 8th (TradersHuddle.com) - Unusual high volume detected on shares of Cinemark Holdings, Inc. (NYSE:CNK) early in the trading session. The pace in volume of Cinemark is already above average, with sellers in control, as the stock is 0.93% lower.
Cinemark Holdings, Inc. (NYSE:CNK) operates a movie theater chain in the United States and Latin America
Cinemark has already traded 1.215 times its 3-month average volume and has calculated support and resistance at $21.56 and $23.99 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 higher by 0.08% from its previous trading close, which means that Cinemark stock is underperforming the overall market.