Ashland Booked a New High

Published on Wednesday, 15 August 2012 14:34 Written by TradersHuddle Wire

New York, August 15th (TradersHuddle.com) - Shares of Ashland Inc. (NYSE:ASH) booked a new 52 week high today by trading above $73.75, traders are definitely monitoring Ashland's price action to see if this move attracts further buying into the stock.

Ashland Inc. (NYSE:ASH) is a specialty chemical company. Its chemistry works in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment.

Ashland is currently trading 0.38% versus its previous trading session close, and it has calculated support and resistance at $67.71 and $72.34 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 0.06% from its previous trading close, which means that Ashland stock is outperforming the overall market.