Constellation Brands Booked a New High

Published on Wednesday, 15 August 2012 13:34 Written by TradersHuddle Wire

New York, August 15th (TradersHuddle.com) - Shares of Constellation Brands, Inc. (NYSE:STZ) booked a new 52 week high today by trading above $31, 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 3.65% 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 0.05% from its previous trading close, which means that Constellation Brands stock is outperforming the overall market.