JNJ - Above Average Volume Detected

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 Johnson and Johnson (NYSE:JNJ) early in the trading session. The pace in volume of JNJ points to a break above average, with buyers stepping in, as the stock is 0.37% higher.

Johnson & Johnson (NYSE:JNJ) manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets. The Company sells products such as skin and hair care products, Tylenol, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world. The consumer healthcare products company was founded in 1886 and is based in New Brunswick, NJ.

JNJ has already traded 0.891 times its 3-month average volume and has calculated support and resistance at $61.71 and $66.32 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 JNJ stock is underperforming the overall market.