Edison Bulls in Charge
Published on Wednesday, 06 June 2012 11:34 Written by TradersHuddle Wire
New York, June 6th (TradersHuddle.com) - Shares of Edison International (NYSE:EIX) booked a new 52 week high today by trading above $45.32, traders are definitely monitoring Edison's price action to see if this move attracts further buying into the stock.
Edison International (NYSE:EIX), through its subsidiaries, develops, acquires, owns, and operates electric power generation facilities worldwide.The California based company provides integrated energy services, utility outsourcing, and consumer products.
Edison is currently trading 0.2% versus its previous trading session close, and it has calculated support and resistance at $37.51 and $44.52 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 1.71% from its previous trading close, which means that Edison stock is underperforming the overall market.
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