AAR Looking at the Abyss

Published on Monday, 18 June 2012 15:34 Written by TradersHuddle Wire

New York, June 18th (TradersHuddle.com) - Shares of AAR Corp. (NYSE:AIR) booked a new 52 week low by trading below $10.31. Traders are definitely monitoring AAR's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

AAR Corp. (NYSE:AIR) is a leading provider of diverse products and services to the worldwide commercial aviation and defense industries. The Company purchases, sells, and leases new and used commercial jet aircraft, as well as purchases, sells, and leases a variety of new, overhauled, and repaired engines and engine products for the aviation aftermarket.

AAR is currently trading 0% versus its previous trading session close, and it has calculated support and resistance at $11.07 and $12.33 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 0.06% from its previous trading close, which means that AAR stock is underperforming the overall market.