TradersHuddle Scanner - High Volume For ETP

Published on Wednesday, 08 August 2012 11:38 Written by TradersHuddle Wire

New York, August 8th (TradersHuddle.com) - Unusual high volume detected on shares of Energy Transfer Partners, L.P. (NYSE:ETP) early in the trading session. The pace in volume of ETP is already above average, with sellers in control, as the stock is 2.07% lower.

Energy Transfer Partners, L.P. (NYSE:ETP) is a publicly traded partnership owning and operating a diversified portfolio of energy assets. ETP has pipeline operations in Arizona, Colorado, Louisiana, New Mexico, and Utah, and owns the largest intrastate pipeline system in Texas. The company currently has natural gas operations that include gathering and transportation pipelines, treating and processing assets, and three storage facilities located in Texas. And its one of the three largest retail marketers of propane in the U.S.

ETP has already traded 11.972 times its 3-month average volume and has calculated support and resistance at $43.15 and $45.85 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 0.11% from its previous trading close, which means that ETP stock is underperforming the overall market.