TradersHuddle Scanner - High Volume For Itron

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

New York, July 11th (TradersHuddle.com) - Unusual high volume detected on shares of Itron, Inc. (NASDAQ:ITRI) early in the trading session. The pace in volume of Itron is already above average, with sellers in control, as the stock is 3.39% lower.

Itron, Inc. (NASDAQ:ITRI) provides solutions for collecting, communicating, and analyzing electric, gas, and water usage data. The Company sells its products to the utility industry. Itron designs, manufactures, markets, sells, installs, and services hardware, software, and integrated systems for handheld computer-based electronic meter reading and automatic meter reading systems.

Itron has already traded 1.205 times its 3-month average volume and has calculated support and resistance at $37.41 and $44.00 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 -0.09% from its previous trading close, which means that Itron stock is underperforming the overall market.