A 52 Week High for New York Times, will it Hold?
Published on Friday, 05 October 2012 12:34 Written by TradersHuddle Wire
New York, October 5th (TradersHuddle.com) - Shares of New York Times Company (NYSE:NYT) booked a new 52 week high today by trading above $10.02, traders are definitely monitoring New York Times' price action to see if this move attracts further buying into the stock.
The New York Times Company (NYSE:NYT) is a diversified media company, conducts operations in newspapers, magazines, television and radio stations, and electronic information and publishing. The Company's publications include The New York Times and The Boston Globe.
New York Times is currently trading 2.4% versus its previous trading session close, and it has calculated support and resistance at $9.35 and $10.02 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 0.3% from its previous trading close, which means that New York Times stock is outperforming the overall market.
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