CBS Higher With High Volume
Published on Wednesday, 05 December 2012 11:38 Written by TradersHuddle Wire
New York, December 5th (TradersHuddle.com) - Unusual high volume detected on shares of CBS Corporation (NYSE:CBS) early in the trading session. The pace in volume of CBS is already above average, with buyers stepping in, as the stock is 0.62% higher.
CBS Corporation (NYSE:CBS) is a media company that operates broadcasting, television production, and publishing businesses. The Company operates television and radio stations, produces and syndicates television programs, publishes books, provides online content as well as provides outdoor advertising.
CBS has already traded 1.146 times its 3-month average volume and has calculated support and resistance at $33.04 and $36.63 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 -0.29% from its previous trading close, which means that CBS stock is outperforming the overall market.
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