A 52 Week High for Wisconsin Energy, will it Hold?

Published on Thursday, 29 July 2010 11:40 Written by Christian Paolinetti

New York, July 29th (TradersHuddle.com) - Shares of Wisconsin Energy Corporation (NYSE:WEC) booked a new 52 week high today by trading above $55.71, traders are definitely monitoring Wisconsin Energy's price action to see if this move attracts further buying into the stock.

Wisconsin Energy Corporation (NYSE:WEC) is a diversified energy holding company. The Company, through its subsidiaries, provides utility services such as distributing electric, gas, steam, and water.

Wisconsin Energy is currently trading -0.66% versus its previous trading session close, and it has calculated support and resistance at $49.41 and $53.98 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 lower by -0.37% from its previous trading close, which means that Wisconsin Energy stock is underperforming the overall market.