BorgWarner High Volume Day?

Published on Thursday, 05 July 2012 11:38 Written by TradersHuddle Wire

New York, July 5th (TradersHuddle.com) - Unusual high volume detected on shares of BorgWarner, Inc. (NYSE:BWA) early in the trading session. The pace in volume of BorgWarner points to a break above average, with buyers stepping in, as the stock is 1.58% higher.

BorgWarner, Inc. (NYSE:BWA) supplies engineered systems and components, primarily for automotive powertrain applications. Its products are manufactured and sold worldwide, primarily to original equipment manufacturers of passenger cars, sport utility vehicles, and light trucks. BorgWarner operates manufacturing facilities in North America, Europe, and Asia.

BorgWarner has already traded 0.899 times its 3-month average volume and has calculated support and resistance at $62.51 and $66.26 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 -0.23% from its previous trading close, which means that BorgWarner stock is outperforming the overall market.