Is SPDR S&amp;P Transportation Breaking Out?

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Is SPDR S&P Transportation Breaking Out?

Published on Tuesday, 07 February 2012 09:42 Written by TradersHuddle Wire

xtn New York, February 7th (TradersHuddle.com) - Shares of SPDR S&P Transportation ETF (NYSE:XTN) closed the trading session at $51.23 just above calculated resistance at $50.52 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

SPDR S&P Transportation ETF (NYSE:XTN) seeks to replicate the performance of the S&P Transportation Select Industry Index. The Index represents the transportation sub-industry portion of the S&P Total Stock Market Index. The Fund holds stakes in trucking, airlines, air freight & logistics, railroads, marine, and airport services companies.

SPDR S&P Transportation's stock was trading in a well defined range with support at $41.00 and resistance at $50.52, given that this range was broken traders will be closely monitoring the stock

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