Constellation Brands Bulls in Charge
Published on Tuesday, 14 August 2012 12:34 Written by TradersHuddle Wire
New York, August 14th (TradersHuddle.com) - Shares of Constellation Brands, Inc. (NYSE:STZ) booked a new 52 week high today by trading above $30.09, traders are definitely monitoring Constellation Brands' price action to see if this move attracts further buying into the stock.
Constellation Brands, Inc. (NYSE:STZ) produces and markets beverage alcohol in North America, Europe, and Australia, and New Zealand. The Company has a portfolio of brands across the wine, imported beer, and distilled spirits categories.
Constellation Brands is currently trading 2.66% versus its previous trading session close, and it has calculated support and resistance at $27.73 and $30.09 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 0.29% from its previous trading close, which means that Constellation Brands stock is outperforming the overall market.
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