Portland General @ Year Highs
Published on Wednesday, 15 August 2012 14:34 Written by TradersHuddle Wire
New York, August 15th (TradersHuddle.com) - Shares of Portland General Electric Co. (NYSE:POR) booked a new 52 week high today by trading above $27.78, traders are definitely monitoring Portland General's price action to see if this move attracts further buying into the stock.
Portland General Electric Co. (NYSE:POR) is an electric utility involved in the generation, purchase, transmission, distribution, and sale of electricity in Oregon. The Company also participates in the wholesale market by purchasing and selling electricity and natural gas to utilities and energy marketers.
Portland General is currently trading -0.86% versus its previous trading session close, and it has calculated support and resistance at $24.48 and $26.94 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 Portland General stock is underperforming the overall market.
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