Trade Alert - Piedmont at New Highs

Published on Wednesday, 21 December 2011 12:34 Written by Danny Miller

New York, December 21st (TradersHuddle.com) - Shares of Piedmont Natural Gas Company, Inc. (NYSE:PNY) booked a new 52 week high today by trading above $34.06, traders are definitely monitoring Piedmont's price action to see if this move attracts further buying into the stock.

Piedmont Natural Gas Company, Inc. (NYSE:PNY) is an energy and services company that primarily transports, distributes, and sells natural gas. The Company serves residential, commercial, and industrial customers in North Carolina, South Carolina, and Tennessee.

Piedmont is currently trading 0.12% versus its previous trading session close, and it has calculated support and resistance at $29.90 and $33.33 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 -0.78% from its previous trading close, which means that Piedmont stock is outperforming the overall market.