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.
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