Progress Energy - 52 Week High

Published on Friday, 15 June 2012 13:34 Written by TradersHuddle Wire

New York, June 15th (TradersHuddle.com) - Shares of Progress Energy, Inc. (NYSE:PGN) booked a new 52 week high today by trading above $60.59, traders are definitely monitoring Progress Energy's price action to see if this move attracts further buying into the stock.

Progress Energy, Inc. (NYSE:PGN) is an integrated electric utility that provides energy and energy-related products and services in the Southeast United States. The Company serves electric and gas customers in the Carolinas and in Florida.

Progress Energy is currently trading 0.2% versus its previous trading session close, and it has calculated support and resistance at $50.90 and $60.59 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 0.61% from its previous trading close, which means that Progress Energy stock is underperforming the overall market.