More Upside for Ferro ?

Published on Thursday, 02 September 2010 12:36 Written by TradersHuddle Staff

New York, September 2nd (TradersHuddle.com) - Shares of Ferro Corporation (NYSE:FOE) booked a new 52 week high today by trading above $11.63, traders are definitely monitoring Ferro's price action to see if this move attracts further buying into the stock.

Ferro Corporation (NYSE:FOE) produces performance materials for industry. The Company produces a variety of coatings, colors, ceramics, chemicals, plastics, and related products. Its primary markets are building and renovation, major appliances, household furnishings, transportation, industrial products, packaging, and leisure products.

Ferro is currently trading 0.17% versus its previous trading session close, and it has calculated support and resistance at $9.72 and $10.77 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 Ferro stock is underperforming the overall market.