Cabela's Booked a New High

Published on Tuesday, 04 September 2012 12:34 Written by TradersHuddle Wire

New York, September 4th (TradersHuddle.com) - Shares of Cabela's Incorporated (NYSE:CAB) booked a new 52 week high today by trading above $48.5, traders are definitely monitoring Cabela's price action to see if this move attracts further buying into the stock.

Cabela's Incorporated (NYSE:CAB) retails hunting, fishing, camping, and outdoor sports products and apparel. The Company markets its products through its retail stores, website, and catalog. Its retail stores also offer in-house clinics associated with hunting, fishing, and camping.

Cabela's is currently trading 0.92% versus its previous trading session close, and it has calculated support and resistance at $45.60 and $48.20 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 flat by 0% from its previous trading close, which means that Cabela's stock is outperforming the overall market.