Trade Alert - DTE Energy at New Highs
Published on Wednesday, 01 August 2012 12:34 Written by TradersHuddle Wire
New York, August 1st (TradersHuddle.com) - Shares of DTE Energy Company (NYSE:DTE) booked a new 52 week high today by trading above $62.22, traders are definitely monitoring DTE Energy's price action to see if this move attracts further buying into the stock.
DTE Energy Company (NYSE:DTE), a diversified energy company, develops and manages energy-related businesses and services nationwide. The Company, through its subsidiaries, generates, purchases, transmits, distributes, and sells electric energy in southeastern Michigan. DTE is also involved in gas pipelines and storage, unconventional gas exploration, development, and production.
DTE Energy is currently trading 0.59% versus its previous trading session close, and it has calculated support and resistance at $49.06 and $62.22 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 0.25% from its previous trading close, which means that DTE Energy stock is outperforming the overall market.
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