Buyers Stepping In - Owens Corning
Published on Wednesday, 27 June 2012 11:38 Written by TradersHuddle Wire
New York, June 27th (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 is already above average, with buyers stepping in, as the stock is 0.96% 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 1.857 times its 3-month average volume and has calculated support and resistance at $26.47 and $30.12 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 0.67% from its previous trading close, which means that Owens Corning stock is outperforming the overall market.