More Upside for AMERIGROUP ?

Published on Tuesday, 10 July 2012 11:34 Written by TradersHuddle Wire

New York, July 10th (TradersHuddle.com) - Shares of AMERIGROUP Corporation (NYSE:AGP) booked a new 52 week high today by trading above $89.02, traders are definitely monitoring AMERIGROUP's price action to see if this move attracts further buying into the stock.

AMERIGROUP Corporation (NYSE:AGP) is a multi-state managed healthcare company. The Company focuses on serving people who receive healthcare benefits through publicly sponsored programs, including Medicaid, Children's Health Insurance Program (CHIP), Medicaid expansion programs and Medicare Advantage.

AMERIGROUP is currently trading 0.63% versus its previous trading session close, and it has calculated support and resistance at $62.89 and $68.00 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 lower by -0.14% from its previous trading close, which means that AMERIGROUP stock is outperforming the overall market.