Buyers Stepping In - Fossil

Published on Tuesday, 07 August 2012 11:38 Written by TradersHuddle Wire

New York, August 7th (TradersHuddle.com) - Unusual high volume detected on shares of Fossil, Inc. (NASDAQ:FOSL) early in the trading session. The pace in volume of Fossil is already above average, with buyers stepping in, as the stock is 30.39% higher.

Fossil, Inc. (NASDAQ:FOSL) designs, markets, and distributes consumer fashion accessories. Its products include an extensive line of fashion watches for both men and women, and jewelry sold under proprietary and licensed brands, handbags, small leather goods, belts, sunglasses, and apparel.

Fossil has already traded 1.701 times its 3-month average volume and has calculated support and resistance at $66.38 and $77.21 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 0.57% from its previous trading close, which means that Fossil stock is outperforming the overall market.