A 52 Week High for BE Aerospace, will it Hold?

Published on Friday, 03 February 2012 11:34 Written by Christopher Lynn

New York, February 3rd (TradersHuddle.com) - Shares of BE Aerospace, Inc. (NASDAQ:BEAV) booked a new 52 week high today by trading above $43.06, traders are definitely monitoring BE Aerospace's price action to see if this move attracts further buying into the stock.

BE Aerospace, Inc. (NASDAQ:BEAV) manufactures interior products for commercial, military, and general aviation aircraft cabins. The Company serves major airlines and various general aviation customers and airframe manufacturers. Its products include a variety of aircraft seating products, food and beverage preparation and storage equipment, cabin interior structures, and oxygen delivery systems.

BE Aerospace is currently trading 1.81% versus its previous trading session close, and it has calculated support and resistance at $35.87 and $43.06 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 1.3% from its previous trading close, which means that BE Aerospace stock is outperforming the overall market.