Yahoo! - Above Average Volume Detected

Published on Friday, 10 August 2012 11:38 Written by TradersHuddle Wire

yhoo New York, August 10th (TradersHuddle.com) - Unusual high volume detected on shares of Yahoo! Inc. (NASDAQ:YHOO) early in the trading session. The pace in volume of Yahoo! is already above average, with sellers in control, as the stock is 5.15% lower.

Yahoo! Inc. (NASDAQ:YHOO) is a global Internet media company that offers Internet services to users, advertisers, publishers, and developers worldwide. The company owns and operates online properties and services and provides its advertising offerings and access to Internet users through its distribution network of third-party entities, as well as offers marketing services to advertisers and publishers. Yahoo owns the second largest internet search engine and provides email services to its users.

Yahoo! has already traded 1.57 times its 3-month average volume and has calculated support and resistance at $15.19 and $16.17 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 lower by -0.27% from its previous trading close, which means that Yahoo! stock is underperforming the overall market.

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