Cabot - Above Average Volume Detected

Published on Friday, 17 August 2012 11:38 Written by TradersHuddle Wire

New York, August 17th (TradersHuddle.com) - Unusual high volume detected on shares of Cabot Corporation (NYSE:CBT) early in the trading session. The pace in volume of Cabot points to a break above average, with buyers stepping in, as the stock is 1.29% higher.

Cabot Corporation (NYSE:CBT) has businesses in chemicals, performance materials, and specialty fluids. The Company manufactures and sells carbon black, fumed silica, plastics, inkjet colorants, tantalum, niobium, and germanium. Its specialty fluids business produces and markets cesium formate as a drilling and completion fluid for use in oil and gas well operations.

Cabot has already traded 0.856 times its 3-month average volume and has calculated support and resistance at $35.58 and $37.51 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 flat by -0% from its previous trading close, which means that Cabot stock is outperforming the overall market.