Arkansas Best @ Year Lows

Published on Wednesday, 13 June 2012 11:34 Written by TradersHuddle Wire

New York, June 13th (TradersHuddle.com) - Shares of Arkansas Best Corporation (NASDAQ:ABFS) booked a new 52 week low by trading below $11.47. Traders are definitely monitoring Arkansas Best's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

Arkansas Best Corporation (NASDAQ:ABFS) is a diversified holding company involved in motor carrier transportation and intermodal transportation operations. The Company transports a variety of goods around the world.

Arkansas Best is currently trading -1.04% versus its previous trading session close, and it has calculated support and resistance at $11.67 and $13.24 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 0.03% from its previous trading close, which means that Arkansas Best stock is underperforming the overall market.