Trade Alert - Southern High Volume
Published on Monday, 06 August 2012 11:38 Written by TradersHuddle Wire
New York, August 6th (TradersHuddle.com) - Unusual high volume detected on shares of Southern Company (NYSE:SO) early in the trading session. The pace in volume of Southern is already above average, with buyers stepping in, as the stock is 0.55% higher.
Southern Company (NYSE:SO) operates as a utility company that provides electric service in the southeastern United States. The public utility holding company, through its subsidiaries, generates, wholesales, and retails electricity. The Company also offers wireless telecommunications services, and provides businesses with two-way radio, telephone, paging, and Internet access services as well as wholesales fiber optic solutions.
Southern has already traded 1.059 times its 3-month average volume and has calculated support and resistance at $35.73 and $46.69 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 0.52% from its previous trading close, which means that Southern stock is outperforming the overall market.
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