H.J. Heinz @ Year Highs

Published on Friday, 03 August 2012 12:34 Written by TradersHuddle Wire

hnz New York, August 3rd (TradersHuddle.com) - Shares of H.J. Heinz Company (NYSE:HNZ) booked a new 52 week high today by trading above $55.58, traders are definitely monitoring Heinz's price action to see if this move attracts further buying into the stock.

H.J. Heinz Company (NYSE:HNZ) manufactures and markets processed food products throughout the world. The Company's principal products include ketchup, condiments and sauces, frozen food, soups, beans and pasta meals, infant nutrition and other processed food products.

H.J. Heinz is currently trading 1.37% versus its previous trading session close, and it has calculated support and resistance at $52.29 and $55.32 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 2.09% from its previous trading close, which means that H.J. Heinz stock is underperforming the overall market.

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