Priceline Shares Find Resistance

shares were trading higher by $30 (2.5 percent) at $1196.67 in Tuesday's session. The rally is taking place in the absence of any substantial news out on the issue. After a lower open ($1162.14 vs. Monday's close of $1166.66), it immediately found support at $1161.56 and began to rally. The issue rebounded over $1200 and found resistance just above Friday's high ($1201.41), reaching $1201.44, before falling back it its current level. It has not closed above $1200 since May 22, when it ended the session at $1208.50. Priceline is on pace to have an above average volume day. So far, it has traded 808,000 shares compared with 20-day average of 709,000 with an hour remaining in the trading session.