Ameriprise Booked a New High

Published on Thursday, 25 October 2012 12:34 Written by TradersHuddle Wire

New York, October 25th (TradersHuddle.com) - Shares of Ameriprise Financial, Inc. (NYSE:AMP) booked a new 52 week high today by trading above $60.47, traders are definitely monitoring Ameriprise's price action to see if this move attracts further buying into the stock.

Ameriprise Financial, Inc. (NYSE:AMP) provides financial planning, products and services that are designed to be utilized as solutions for its clients' cash and liquidity, asset accumulation, income, protection, and estate and wealth transfer needs. The company is headquartered in Minneapolis, Minnesota and operates independently of American Express Company as of September 30, 2005.

Ameriprise is currently trading 4.12% versus its previous trading session close, and it has calculated support and resistance at $55.35 and $59.27 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 Ameriprise stock is outperforming the overall market.