Trade Alert - Wisconsin Energy at New Highs

Published on Thursday, 02 September 2010 12:34 Written by Christian Paolinetti

New York, September 2nd (TradersHuddle.com) - Shares of Wisconsin Energy Corporation (NYSE:WEC) booked a new 52 week high today by trading above $56.99, 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 -1.05% versus its previous trading session close, and it has calculated support and resistance at $49.41 and $55.94 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 0.51% from its previous trading close, which means that Wisconsin Energy stock is underperforming the overall market.