Cooper Tire @ Year Highs
Published on Thursday, 16 August 2012 12:34 Written by TradersHuddle Wire
New York, August 16th (TradersHuddle.com) - Shares of Cooper Tire & Rubber Company (NYSE:CTB) booked a new 52 week high today by trading above $19.93, traders are definitely monitoring Cooper Tire's price action to see if this move attracts further buying into the stock.
Cooper Tire & Rubber Company (NYSE:CTB) is a global company that specializes in the design, manufacture, marketing and sales of passenger car and light truck tires and subsidiaries that specialize in medium truck, motorcycle and racing tires. The Company focuses on the manufacture and sale of replacement tires. Cooper is headquartered in Findlay, Ohio and has operations in 10 countries around the world.
Cooper Tire is currently trading 1.47% versus its previous trading session close, and it has calculated support and resistance at $15.74 and $19.93 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 0.56% from its previous trading close, which means that Cooper Tire stock is outperforming the overall market.
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