Phillips-Van Heusen Booked a New High

Published on Wednesday, 08 February 2012 12:34 Written by TradersHuddle Wire

New York, February 8th (TradersHuddle.com) - Shares of Phillips-Van Heusen Corporation (NYSE:PVH) booked a new 52 week high today by trading above $79.73, traders are definitely monitoring Phillips-Van Heusen's price action to see if this move attracts further buying into the stock.

Phillips-Van Heusen Corporation (NYSE:PVH) designs, sources, manufactures, and markets apparel and footwear for the whole family. The Company markets its products at a wholesale level through department store chains and directly to consumers through retail stores. The company uses multibrand brand strategy to reach different markets, some of its brands include Arrow, Van-Heusen, Calvin Klein, IZOD, Geoffrey Beene, Kenneth Cole, and DKNY.

Phillips-Van Heusen is currently trading 2.36% versus its previous trading session close, and it has calculated support and resistance at $70.59 and $78.37 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 -0.12% from its previous trading close, which means that Phillips-Van Heusen stock is outperforming the overall market.