Barnes & Noble @ Year Lows

Published on Monday, 19 July 2010 11:37 Written by Christian Paolinetti

New York, July 19th (TradersHuddle.com) - Shares of Barnes & Noble, Inc. (NYSE:BKS) booked a new 52 week low by trading below $12.15, traders are definitely monitoring Barnes & Noble's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Barnes & Noble, Inc. (NYSE:BKS) operates superstores and mall-based bookstores throughout the US. The Company operates book superstores under the names Barnes & Noble Booksellers, Bookstop, and Bookstar. Barnes & Noble also operates bookstores in shopping malls under the names B. Dalton Bookseller, Doubleday Book Shops, and Scribner's Bookstore.

Barnes & Noble is currently trading -1.39% versus its previous trading session close, and it has calculated support and resistance at $12.15 and $13.41 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.2% from its previous trading close, which means that Barnes & Noble stock is underperforming the overall market.