More Upside for Briggs & Stratton ?
Published on Tuesday, 11 September 2012 12:34 Written by TradersHuddle Wire
New York, September 11th (TradersHuddle.com) - Shares of Briggs & Stratton Corporation (NYSE:BGG) booked a new 52 week high today by trading above $18.99, traders are definitely monitoring Briggs & Stratton's price action to see if this move attracts further buying into the stock.
Briggs & Stratton Corporation (NYSE:BGG) is the largest producer in the world of air-cooled gasoline engines for outdoor power equipment. The company designs, manufactures, markets, small engines, lawn mower engines, portable generators, and home generators for original equipment manufacturers (OEMs) worldwide.
Briggs & Stratton is currently trading 0.16% versus its previous trading session close, and it has calculated support and resistance at $16.91 and $18.13 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 0.42% from its previous trading close, which means that Briggs & Stratton stock is underperforming the overall market.
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