A 52 Week High for Moody's, will it Hold?

Published on Friday, 26 October 2012 12:34 Written by TradersHuddle Wire

New York, October 26th (TradersHuddle.com) - Shares of Moody's Corporation (NYSE:MCO) booked a new 52 week high today by trading above $46.64, traders are definitely monitoring Moody's price action to see if this move attracts further buying into the stock.

Moody's Corporation (NYSE:MCO) is a credit rating, research, and risk analysis firm. The Company provides credit ratings and related research, data and analytical tools, quantitative credit risk measures, risk scoring software, and credit portfolio management solutions and securities pricing software and valuation models.

Moody's is currently trading 6.39% versus its previous trading session close, and it has calculated support and resistance at $43.23 and $46.64 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 -0.56% from its previous trading close, which means that Moody's stock is outperforming the overall market.