Staples Above Average Volume

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 Staples, Inc. (NASDAQ:SPLS) early in the trading session. The pace in volume of Staples is already above average, with sellers in control, as the stock is 0.61% lower.

Staples, Inc. (NASDAQ:SPLS) is an office supplies, furniture, and technology retailer. The Massachusetts based company serves its customers through office superstores, mail order catalogs, the Internet, and a contract business.

Staples has already traded 1.102 times its 3-month average volume and has calculated support and resistance at $11.15 and $11.97 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 Staples stock is underperforming the overall market.