Buyers Stepping In - Research In Motion

Published on Friday, 28 September 2012 11:38 Written by TradersHuddle Wire

New York, September 28th (TradersHuddle.com) - Unusual high volume detected on shares of Research In Motion Limited (NASDAQ:RIMM) early in the trading session. The pace in volume of Research In Motion is already above average, with buyers stepping in, as the stock is 2% higher.

Research In Motion Limited (NASDAQ:RIMM) designs, manufactures, and markets wireless solutions and smart phones for the worldwide mobile communications market. The Blackberry maker provides platforms and solutions for access to email, phone, SMS messaging, Internet, and Intranet-based applications.

Research In Motion has already traded 3.09 times its 3-month average volume and has calculated support and resistance at $6.22 and $7.86 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 -0.66% from its previous trading close, which means that Research In Motion stock is outperforming the overall market.