High Above Average Volume on Landstar

Published on Friday, 22 June 2012 11:38 Written by TradersHuddle Wire

New York, June 22nd (TradersHuddle.com) - Unusual high volume detected on shares of Landstar System, Inc. (NASDAQ:LSTR) early in the trading session. The pace in volume of Landstar points to a break above average, with sellers in control, as the stock is 3.18% lower.

Landstar System, Inc. (NASDAQ:LSTR) is a North American truckload carrier. The Company provides truckload carrier services, intermodal transportation services, and expedited air and truck services to shippers in Northamerica and around the world.

Landstar has already traded 0.819 times its 3-month average volume and has calculated support and resistance at $50.00 and $53.32 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 0.35% from its previous trading close, which means that Landstar stock is underperforming the overall market.