Trade Alert - Under Armour High Volume

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

New York, June 11th (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 buyers stepping in, as the stock is 2.84% higher.

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 0.973 times its 3-month average volume and has calculated support and resistance at $94.17 and $101.58 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 outperforming the overall market.