JP Morgan High Volume Day?

Published on Friday, 07 December 2012 11:38 Written by TradersHuddle Wire

New York, December 7th (TradersHuddle.com) - Unusual high volume detected on shares of JP Morgan Chase & Co. (NYSE:JPM) early in the trading session. The pace in volume of JP Morgan points to a break above average, with buyers stepping in, as the stock is 0.66% higher.

JPMorgan Chase & Co. (NYSE:JPM) provides global financial services and retail banking. The Company provides services such as investment banking, securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals. JP Morgan, the second largest U.S. lender, was founded in 1823 and is headquartered in New York, NY.

JP Morgan has already traded 0.819 times its 3-month average volume and has calculated support and resistance at $38.83 and $41.22 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 -0.02% from its previous trading close, which means that JP Morgan stock is outperforming the overall market.