Trade Alert - ABM High Volume

Published on Tuesday, 17 July 2012 11:38 Written by TradersHuddle Wire

New York, July 17th (TradersHuddle.com) - Unusual high volume detected on shares of ABM Industries Inc. (NYSE:ABM) early in the trading session. The pace in volume of ABM points to a break above average, with buyers stepping in, as the stock is 0.05% higher.

ABM Industries Incorporated (NYSE:ABM) is a facility services contractor. The Company provides air conditioning, engineering, janitorial, lighting, parking, security, and other outsourced facility services to commercial, industrial, and institutional customers across North America.

ABM has already traded 0.849 times its 3-month average volume and has calculated support and resistance at $18.95 and $20.40 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 ABM stock is outperforming the overall market.