Buyers Stepping In - Panera Bread

Published on Wednesday, 25 July 2012 11:38 Written by TradersHuddle Wire

New York, July 25th (TradersHuddle.com) - Unusual high volume detected on shares of Panera Bread Company (NASDAQ:PNRA) early in the trading session. The pace in volume of Panera Bread is already above average, with buyers stepping in, as the stock is 7.49% higher.

Panera Bread Company (NASDAQ:PNRA) owns and franchises bakery cafes. Its bakeries operate under the Panera Bread and Saint Louis Bread Co. names. Panera operates throughout the United States.

Panera Bread has already traded 3.144 times its 3-month average volume and has calculated support and resistance at $135.40 and $151.78 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 flat by 0% from its previous trading close, which means that Panera Bread stock is outperforming the overall market.