New York, March 11th (TradersHuddle.com) - Shares of Spectra Energy Corporation (NYSE:SE) closed the trading session at $22.32 just above calculated resistance at $21.82 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Spectra Energy Corporation (NYSE:SE) transmits, stores, distributes, gathers, and processes natural gas. The Company provides transportation and storage of natural gas to customers in various regions of the northeastern and southeastern United States, the Maritime Provinces in Canada and the Pacific Northwest in the United States and Canada, and the province of Ontario, Canada.

Spectra's stock was trading in a well defined range with support at $20.37 and resistance at $21.82, given that this range was broken traders will be closely monitoring the stock?s price action for clues of direction.

From a technical perspective it can be expected that previous resistance becomes support, as the new range gets defined, however, given that Spectra's stock is still near the broken resistance level, traders will be focusing on $21.82 to see if the stock holds the breakout without rolling over.