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Shares of Sonic Are Down on Strong Volume (SONC)

By Amy Schwartz

Shares of Sonic are trading down 4.2% to $31.17 today on above average volume. Today's volume of 1.6 million shares tops the average 30-day volume of 985,000 shares. Unusually high volume can signify a potential turning point or validate a breakout.

SmarTrend is monitoring the recent change of momentum in Sonic. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Sonic in search of a potential trend change.

Over the past year, Sonic has traded in a range of $22.72 to $36.34 and is now at $30.91, 36% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.5%.

Keywords: unusual volume Sonic

Ticker(s): SONC