High Above Average Volume on Owens Corning

Published on Wednesday, 20 June 2012 11:38 Written by TradersHuddle Wire

New York, June 20th (TradersHuddle.com) - Unusual high volume detected on shares of Owens Corning Inc. (NYSE:OC) early in the trading session. The pace in volume of Owens Corning points to a break above average, with buyers stepping in, as the stock is 2.75% higher.

Owens Corning Inc. (NYSE:OC) is a material company that opertes in the buidling and cnstruction industries. It offers insulation, roofing, siding, basement and acoustic systems for building and remodeling. The company also produces composites solutions and asphalt.

Owens Corning has already traded 0.971 times its 3-month average volume and has calculated support and resistance at $26.47 and $29.62 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 -0.17% from its previous trading close, which means that Owens Corning stock is outperforming the overall market.