Broker Dealer Stocks Underperfomed: AMP, SCHW, MS

Published on Friday, 15 June 2012 17:07 Written by Danny Miller

New York, June 15th (TradersHuddle.com) - The overall market traded higher with the S&P 500 adding 1.03%. Stocks of Broker / Dealers also traded higher, with NYSE Broker/Dealer index closing the session at $86.519, which represents 1.62% versus previous day close. The index , it had 9 out of 10 components trading higher.

Ameriprise (NYSE:AMP) was the top performer of the sector today, closing at $49.48 representing 3.26% versus the previous trading session. Shares of Ameriprise, the financial planning firm, have defined support at $47.06 and resistance at $49.69.

Charles Schwab (NYSE:SCHW) was also among the top performers, closed the trading session at $12.69 representing 2.67% from its previous close. Charles Schwab, the securities brokerage, banking, and other related financial services provider has calculated support and resistance levels at $11.64 and $12.59 respectively. The other top performer was Morgan Stanley (NYSE:MS), which closed the trading session at $14.3 representing 2.66% from the previous session.

The sector's worst performers include E*TRADE (NASDAQ:ETFC) that closed the trading session at $7.97 or -0.25% from the previous close. Shares of E*TRADE, the online brokerage and financial services provider for individual retail investors have defined support at $7.82 and resistance at $8.53. Also among the worst performers was Interactive Brokers (NASDAQ:IBKR), which closed the trading session at $14.36 representing 0.07% from the previous session.