Flowers Foods Bulls in Charge

Published on Thursday, 07 June 2012 11:34 Written by TradersHuddle Wire

New York, June 7th (TradersHuddle.com) - Shares of Flowers Foods, Inc. (NYSE:FLO) booked a new 52 week high today by trading above $23.25, traders are definitely monitoring Flowers Foods' price action to see if this move attracts further buying into the stock.

Flowers Foods, Inc. (NYSE:FLO) produces and markets packaged bakery foods for retail and foodservice customers. The Company offers fresh packaged and frozen bakery products as well as pastries, doughnuts and bakery snack products. Flowers markets its products using several national, regional and local brand names, such as Nature's Own, Whitewheat, ButterKrust, and Sunbeam.

Flowers Foods is currently trading 0.77% versus its previous trading session close, and it has calculated support and resistance at $19.40 and $21.66 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 Flowers Foods stock is outperforming the overall market.