More Upside for SCANA ?

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More Upside for SCANA ?

Published on Monday, 05 December 2011 11:34 Written by Christian Paolinetti

scg New York, December 5th (TradersHuddle.com) - Shares of SCANA Corporation (NYSE:SCG) booked a new 52 week high today by trading above $43.88, 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 1.51% versus its previous trading session close, and it has calculated support and resistance at $40.51 and $43.88 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 1.47% from its previous trading close, which means that SCANA stock is outperforming the overall market.

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