NRG Energy Looking at the Abyss

Published on Thursday, 19 January 2012 12:34 Written by Danny Miller

New York, January 19th (TradersHuddle.com) - Shares of NRG Energy, Inc. (NYSE:NRG) booked a new 52 week low by trading below $17.12, traders are definitely monitoring NRG's price action to see if this move attracts further selling, or it this last push down sets a tradable bottom in the stock.

NRG Energy, Inc. (NYSE:NRG) is the owner and operator of a diverse portfolio of power-generating facilities, primarily in the United States. Its operations include energy production and cogeneration facilities, thermal energy production, and energy resource recovery facilities.

NRG Energy is currently trading -1.68% versus its previous trading session close, and it has calculated support and resistance at $17.31 and $18.76 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 0.44% from its previous trading close, which means that NRG Energy stock is underperforming the overall market.