Sellers in Control - Southwestern Energy
Published on Tuesday, 24 July 2012 11:38 Written by TradersHuddle Wire
New York, July 24th (TradersHuddle.com) - Unusual high volume detected on shares of Southwestern Energy Company (NYSE:SWN) early in the trading session. The pace in volume of Southwestern Energy points to a break above average, with sellers in control, as the stock is 0.81% lower.
Southwestern Energy Company (NYSE:SWN) is an independent energy company primarily focused on natural gas and crude oil exploration within the United States. The Company operations also include natural gas gathering, transmission, and marketing, as well as natural gas distribution.
Southwestern Energy has already traded 0.802 times its 3-month average volume and has calculated support and resistance at $30.28 and $32.52 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 -0.46% from its previous trading close, which means that Southwestern Energy stock is underperforming the overall market.
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