More Upside for Alliance Data Systems ?

Published on Wednesday, 25 January 2012 12:34 Written by Christopher Lynn

New York, January 25th (TradersHuddle.com) - Shares of Alliance Data Systems Corporation (NYSE:ADS) booked a new 52 week high today by trading above $110.8, traders are definitely monitoring Alliance's price action to see if this move attracts further buying into the stock.

Alliance Data Systems Corporation (NYSE:ADS), together with its subsidiaries, provides data-driven and transaction-based marketing and customer loyalty solutions primarily in the United States and Canada. The Company provides its services to the retail, petroleum, utility, financial services, and hospitality markets.

Alliance Data Systems is currently trading 0.91% versus its previous trading session close, and it has calculated support and resistance at $103.07 and $110.16 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 -0.31% from its previous trading close, which means that Alliance Data Systems stock is outperforming the overall market.