A 52 Week High for World Fuel Services, will it Hold?

Published on Friday, 02 December 2011 12:34 Written by Christopher Lynn

New York, December 2nd (TradersHuddle.com) - Shares of World Fuel Services Corporation (NYSE:INT) booked a new 52 week high today by trading above $43.21, traders are definitely monitoring World Fuel Services' price action to see if this move attracts further buying into the stock.

World Fuel Services Corporation (NYSE:INT) markets aviation and marine fuel services. The Company provides aviation fuel and flight plans, weather reports, and other aviation related services to passenger, cargo, and charter airlines, as well as markets marine fuel and fuel management services to shipping companies and the US military.

World Fuel Services is currently trading 2.27% versus its previous trading session close, and it has calculated support and resistance at $37.67 and $42.12 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 0.6% from its previous trading close, which means that World Fuel Services stock is outperforming the overall market.