A 52 Week High for AllianceBernstein, will it Hold?
Published on Thursday, 25 October 2012 12:34 Written by TradersHuddle Wire
New York, October 25th (TradersHuddle.com) - Shares of AllianceBernstein Holding LP (NYSE:AB) booked a new 52 week high today by trading above $16.75, traders are definitely monitoring AllianceBernstein's price action to see if this move attracts further buying into the stock.
AllianceBernstein Holding LP (NYSE:AB) is an investment management firm. The Company provides investment management services to U.S. public and private employee benefit plans, foundations, public employee retirement funds, pension funds, endowments, banks, insurance companies and high-net-worth individuals worldwide.
AllianceBernstein is currently trading 11.91% versus its previous trading session close, and it has calculated support and resistance at $15.11 and $16.70 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 lower by -0.11% from its previous trading close, which means that AllianceBernstein stock is outperforming the overall market.
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