Altria - Above Average Volume Detected

Published on Friday, 03 August 2012 11:38 Written by TradersHuddle Wire

New York, August 3rd (TradersHuddle.com) - Unusual high volume detected on shares of Altria Group, Inc. (NYSE:MO) early in the trading session. The pace in volume of Altria points to a break above average, with sellers in control, as the stock is 1.3% lower.

Altria Group, Inc. (NYSE:MO), its a holding company, parent of Philip Morris USA, John Middleton, and US Smokeless Tobacco Company. Altria, through its subsidiaries, engages in the manufacture and sale of cigarettes, and other tobacco products in the United States and internationally. It primarily offers cigarettes under the Marlboro, Virginia Slims, and Parliament brands; smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands; and machine-made large cigars and pipe tobacco.

Altria has already traded 0.826 times its 3-month average volume and has calculated support and resistance at $28.25 and $36.05 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 higher by 1.95% from its previous trading close, which means that Altria stock is underperforming the overall market.