High Above Average Volume on Intercontinental Exchange

Published on Friday, 15 June 2012 11:38 Written by TradersHuddle Wire

New York, June 15th (TradersHuddle.com) - Unusual high volume detected on shares of Intercontinental Exchange Inc. (NYSE:ICE) early in the trading session. The pace in volume of Intercontinental Exchange is already above average, with buyers stepping in, as the stock is 4.98% higher.

Intercontinental Exchange Inc. (NYSE:ICE) operates global commodity and financial products marketplaces. The Company operates electronic energy markets and soft commodity exchanges as well. ICE offers access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities.

Intercontinental Exchange has already traded 1.147 times its 3-month average volume and has calculated support and resistance at $117.82 and $129.81 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 0.59% from its previous trading close, which means that Intercontinental Exchange stock is outperforming the overall market.