TD Ameritrade Bears Firmly in Control

Published on Tuesday, 17 July 2012 12:34 Written by TradersHuddle Wire

New York, July 17th (TradersHuddle.com) - Shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) booked a new 52 week low by trading below $26.58. Traders are definitely monitoring TD Ameritrade's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) provides online brokerage services to the investmnet community. The Company provides tiered levels of brokerage products and services tailored to meet the varying investing, trading, and execution needs of independent individual investors, financial institutions, and corporations.

TD Ameritrade is currently trading -1.89% versus its previous trading session close, and it has calculated support and resistance at $18.05 and $19.53 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 0.45% from its previous trading close, which means that TD Ameritrade stock is underperforming the overall market.