Tellabs - Above Average Volume Detected
Published on Tuesday, 11 December 2012 11:38 Written by TradersHuddle Wire
New York, December 11th (TradersHuddle.com) - Unusual high volume detected on shares of Tellabs, Inc. (NASDAQ:TLAB) early in the trading session. The pace in volume of Tellabs is already above average, with buyers stepping in, as the stock is 1.63% higher.
Tellabs, Inc. (NASDAQ:TLAB) designs, manufactures, sells, and services voice, data, and video transport and network access systems. The Company's products are used worldwide by public telephone companies, long-distance carriers, alternate service providers, cellular service providers, cable operators.
Tellabs has already traded 2.084 times its 3-month average volume and has calculated support and resistance at $2.70 and $3.63 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 higher by 1.02% from its previous trading close, which means that Tellabs stock is outperforming the overall market.