Watsco Bulls in Charge
Published on Tuesday, 03 July 2012 11:34 Written by TradersHuddle Wire
New York, July 3rd (TradersHuddle.com) - Shares of Watsco, Inc. (NYSE:WSO) booked a new 52 week high today by trading above $75.64, traders are definitely monitoring Watsco's price action to see if this move attracts further buying into the stock.
Watsco, Inc. (NYSE:WSO) distributes air conditioning, heating, and refrigeration equipment, as well as related parts and supplies. The Company operates various locations in the United States, with primary markets in the Sunbelt.
Watsco is currently trading 2.43% versus its previous trading session close, and it has calculated support and resistance at $69.97 and $74.66 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 0.6% from its previous trading close, which means that Watsco stock is outperforming the overall market.
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