Symantec - 52 Week Low

Published on Thursday, 29 July 2010 12:37 Written by Danny Miller

New York, July 29th (TradersHuddle.com) - Shares of Symantec Corporation (NASDAQ:SYMC) booked a new 52 week low by trading below $13.58, traders are definitely monitoring Symantec's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Symantec Corporation (NASDAQ:SYMC) provides security, storage, and systems management solutions to secure and manage information. Its principal activities are to provide customers worldwide with software and services that protect, manage and control information risks related to security, data protection, storage, compliance, and systems management.

Symantec is currently trading -11.66% versus its previous trading session close, and it has calculated support and resistance at $13.58 and $15.5 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 -0.88% from its previous trading close, which means that Symantec stock is underperforming the overall market.