Trade Alert - Skechers High Volume

Published on Thursday, 28 June 2012 11:38 Written by TradersHuddle Wire

New York, June 28th (TradersHuddle.com) - Unusual high volume detected on shares of Skechers U.S.A., Inc. (NYSE:SKX) early in the trading session. The pace in volume of Skechers points to a break above average, with buyers stepping in, as the stock is 1.39% higher.

Skechers U.S.A., Inc. (NYSE:SKX) designs, develops, markets and distributes branded contemporary casual, active, rugged, and lifestyle footwear for men, women, and children.

Skechers has already traded 0.952 times its 3-month average volume and has calculated support and resistance at $15.95 and $21.50 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 -1.06% from its previous trading close, which means that Skechers stock is outperforming the overall market.