A 52 Week High for Assurant, will it Hold?

Published on Tuesday, 07 February 2012 11:34 Written by TradersHuddle Wire

New York, February 7th (TradersHuddle.com) - Shares of Assurant, Inc. (NYSE:AIZ) booked a new 52 week high today by trading above $42.06, traders are definitely monitoring Assurant's price action to see if this move attracts further buying into the stock.

Assurant, Inc. (NYSE:AIZ) provides specialized insurance and insurance-related products. The insurer offers individual and small employer group health insurance, group dental insurance, pre-funded funeral insurance, group disability and life insurance, creditor-placed homeowners insurance, manufactured housing homeowners insurance, debt protection administration, credit insurance, and warranties.

Assurant is currently trading 2.12% versus its previous trading session close, and it has calculated support and resistance at $37.58 and $42.00 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 0.13% from its previous trading close, which means that Assurant stock is outperforming the overall market.