A 52 Week High for Hubbell, will it Hold?

Published on Tuesday, 21 February 2012 12:34 Written by TradersHuddle Wire

New York, February 21st (TradersHuddle.com) - Shares of Hubbell Incorporated (NYSE:HUB.B) booked a new 52 week high today by trading above $76.62, traders are definitely monitoring Hubbell's price action to see if this move attracts further buying into the stock.

Hubbell Incorporated (NYSE:HUB.B) manufactures electrical and electronic products for commercial, industrial, utility, and telecommunications markets. Its products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment, and voice and data signal processing components.

Hubbell is currently trading 1.12% versus its previous trading session close, and it has calculated support and resistance at $61.39 and $75.68 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 0.34% from its previous trading close, which means that Hubbell stock is outperforming the overall market.