Trade Alert - ITT Educaticational at New Lows

Published on Friday, 24 August 2012 12:34 Written by TradersHuddle Wire

New York, August 24th (TradersHuddle.com) - Shares of ITT Educational Services, Inc. (NYSE:ESI) booked a new 52 week low by trading below $31.44. Traders are definitely monitoring ITT's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.

ITT Educational Services, Inc. (NYSE:ESI) is a provider of technology-oriented postsecondary degree programs in the United States. Its institutes offer associate, bachelor, and master degree programs, as well as non-degree diploma programs.

ITT Educaticational is currently trading -1.96% versus its previous trading session close, and it has calculated support and resistance at $31.44 and $33.60 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 0.45% from its previous trading close, which means that ITT Educaticational stock is underperforming the overall market.