A 52 Week High for SCANA, will it Hold?

Published on Thursday, 01 December 2011 13:34 Written by Christopher Lynn

New York, December 1st (TradersHuddle.com) - Shares of SCANA Corporation (NYSE:SCG) booked a new 52 week high today by trading above $43.66, traders are definitely monitoring SCANA's price action to see if this move attracts further buying into the stock.

SCANA Corporation (NYSE:SCG) is a holding company involved in regulated electric and natural gas utility operations, telecommunications, and other energy-related businesses. The Company serves electric customers in South Carolina and natural gas customers in South Carolina, North Carolina, and Georgia.

SCANA is currently trading -0.05% versus its previous trading session close, and it has calculated support and resistance at $40.51 and $43.13 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 -0.27% from its previous trading close, which means that SCANA stock is outperforming the overall market.