New York, November 26th (TradersHuddle.com) - Shares of Entergy Corporation (NYSE:ETR) booked a new 52 week low by trading below $61.95. Traders are definitely monitoring Entergy's price action to see if this move attracts further selling, or if this last push down sets a tradable bottom in the stock.
Entergy Corporation (NYSE:ETR) is an integrated energy company that is primarily focused on electric power production and retail electric distribution operations. The Company delivers electricity to utility customers in Arkansas, Louisiana, Mississippi, and Texas. Entergy also owns and operates nuclear plants in the northern United States. In addition, the company also operates a natural gas distribution business.
Entergy is currently trading -0.39% versus its previous trading session close, and it has calculated support and resistance at $67.74 and $74.50 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 -0.79% from its previous trading close, which means that Entergy stock is outperforming the overall market.