YRC Worldwide Bears Firmly in Control
Published on Monday, 09 April 2012 12:34 Written by TradersHuddle Wire
New York, April 9th (TradersHuddle.com) - Shares of YRC Worldwide Inc. (NASDAQ:YRCW) booked a new 52 week low by trading below $5. Traders are definitely monitoring YRC's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.
YRC Worldwide Inc. (NASDAQ:YRCW) is one of the largest transportation service providers in the world. The company has a portfolio of successful brands, including YRC, YRC Reimer, YRC Glen Moore, New Penn, Holland and Reddaway. YRC Worldwide has the largest, most comprehensive network in North America with local, regional, national and international capabilities. In addition to freight and transportation services, the company offers expertise in heavyweight shipments and flexible supply chain solutions.
YRC Worldwide is currently trading 0.2% versus its previous trading session close, and it has calculated support and resistance at $6.39 and $9.87 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 -1.16% from its previous trading close, which means that YRC Worldwide stock is outperforming the overall market.
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