Community Health Higher With High Volume

Published on Tuesday, 28 August 2012 11:38 Written by TradersHuddle Wire

New York, August 28th (TradersHuddle.com) - Unusual high volume detected on shares of Community Health Systems Inc. (NYSE:CYH) early in the trading session. The pace in volume of Community Health points to a break above average, with buyers stepping in, as the stock is 2.43% higher.

Community Health Systems Inc. (NYSE:CYH) owns, leases, and operates hospitals in multiple states. The Hospitals services include emergency room services, general surgery, critical care, internal medicine, obstetrics and diagnostic services. Community Health also owns interests in physicians, physician practices, imaging centers, home health agencies and ambulatory surgery centers.

Community Health has already traded 0.943 times its 3-month average volume and has calculated support and resistance at $22.93 and $26.51 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 lower by -0.09% from its previous trading close, which means that Community Health stock is outperforming the overall market.