Brokers Higher In Focus:AMP, RJF, ETFC

Published on Thursday, 25 October 2012 17:07 Written by Christopher Lynn

New York, October 25th (TradersHuddle.com) - The overall market traded higher with the S&P 500 adding 0.3%. Stocks of Broker / Dealers also traded higher, with NYSE Broker/Dealer index closing the session at $84.243, which represents 1.22% versus previous day close. The index , it had 8 out of 10 components trading higher.

Ameriprise (NYSE:AMP) was the top performer of the sector today, closing at $59.72 representing 4.64% versus the previous trading session. Shares of Ameriprise, the financial planning firm, have defined support at $55.35 and resistance at $59.27.

Raymond James (NYSE:RJF) was also among the top performers, closed the trading session at $38.2 representing 3.58% from its previous close. Raymond James, the financial services provider for retail investors, corporations and municipalities has calculated support and resistance levels at $36.36 and $38.45 respectively. The other top performer was E*TRADE (NASDAQ:ETFC), which closed the trading session at $8.4 representing 1.88% from the previous session.

The sector's worst performers include Morgan Stanley (NYSE:MS) that closed the trading session at $17.1 or -0.47% from the previous close. Shares of Morgan Stanley, the operator of a global securities business have defined support at $16.94 and resistance at $18.57. Also among the worst performers was Goldman Sachs (NYSE:GS), which closed the trading session at $119.32 representing -0.38% from the previous session.