Southwestern Energy Looking at the Abyss

Published on Wednesday, 11 January 2012 12:34 Written by Danny Miller

New York, January 11th (TradersHuddle.com) - Shares of Southwestern Energy Company (NYSE:SWN) booked a new 52 week low by trading below $30.94, traders are definitely monitoring Southwestern's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

Southwestern Energy Company (NYSE:SWN) is an independent energy company primarily focused on natural gas and crude oil exploration within the United States. The Company operations also include natural gas gathering, transmission, and marketing, as well as natural gas distribution.

Southwestern Energy is currently trading -6.67% versus its previous trading session close, and it has calculated support and resistance at $31.90 and $33.80 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 -0.15% from its previous trading close, which means that Southwestern Energy stock is underperforming the overall market.