Plains All American Pipeline Booked a New High
Published on Tuesday, 18 September 2012 12:34 Written by TradersHuddle Wire
New York, September 18th (TradersHuddle.com) - Shares of Plains All American Pipeline, L.P. (NYSE:PAA) booked a new 52 week high today by trading above $90.49, traders are definitely monitoring Plains All American's price action to see if this move attracts further buying into the stock.
Plains All American Pipeline, L.P. (NYSE:PAA) is a publicly traded master limited partnership engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas-related petroleum products. It is also engaged in the development and operation of natural gas storage facilities. The Company operates in three business segments: Transportation, Facilities, and Supply and Logistics.
Plains All American Pipeline is currently trading 0.28% versus its previous trading session close, and it has calculated support and resistance at $75.18 and $88.00 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 Plains All American Pipeline stock is outperforming the overall market.
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