Trade Alert - DIRECTV at New Highs

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

New York, August 24th (TradersHuddle.com) - Shares of DIRECTV (NASDAQ:DTV) booked a new 52 week high today by trading above $52.4, traders are definitely monitoring DIRECTV's price action to see if this move attracts further buying into the stock.

DIRECTV (NASDAQ:DTV) provides digital television entertainment in the United States and Latin America. The Company acquires, promotes, sells and distributes digital entertainment programming via satellite to residential and commercial subscribers.

DIRECTV is currently trading 1.27% versus its previous trading session close, and it has calculated support and resistance at $46.59 and $52.40 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 DIRECTV stock is outperforming the overall market.