A 52 Week High for Aaron's, will it Hold?

Published on Friday, 10 February 2012 11:34 Written by TradersHuddle Wire

New York, February 10th (TradersHuddle.com) - Shares of Aaron's, Inc. (NYSE:AAN) booked a new 52 week high today by trading above $29.34, traders are definitely monitoring Aaron's price action to see if this move attracts further buying into the stock.

Aaron's, Inc. (NYSE:AAN) is a retailer that sells and lease to own furniture and household items. The company rents and sells office and residential furniture and accessories, consumer electronics, and household appliances through its company-owned or franchised locations. Aaron's also manufactures furniture, bedding, and accessories.

Aaron's is currently trading -2.43% versus its previous trading session close, and it has calculated support and resistance at $26.43 and $29.02 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 -0.77% from its previous trading close, which means that Aaron's stock is underperforming the overall market.