Shire Booked a New High

Published on Tuesday, 14 February 2012 11:34 Written by TradersHuddle Wire

New York, February 14th (TradersHuddle.com) - Shares of Shire PLC (NASDAQ:SHPGY) booked a new 52 week high today by trading above $105.53, traders are definitely monitoring Shire's price action to see if this move attracts further buying into the stock.

Shire PLC (NASDAQ:SHPGY) is one of the leading specialty biopharmaceutical companies in the world. The companybased in Dublin, Ireland focuses its operations on attention deficit and hyperactivity disorders, human genetic therapies, gastrointestinal, and renal diseases.

Shire is currently trading 0.1% versus its previous trading session close, and it has calculated support and resistance at $93.57 and $104.54 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 -0.4% from its previous trading close, which means that Shire stock is outperforming the overall market.