Above Resistance - Consolidated Edison

Published on Monday, 26 December 2011 21:12 Written by Danny Miller

New York, December 26th (TradersHuddle.com) - Shares of Consolidated Edison, Inc. (NYSE:ED) closed the trading session at $61.98 just above calculated resistance at $61.88 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Consolidated Edison, Inc. (NYSE:ED), through its subsidiaries, provides a variety of energy related services. The Company supplies electric service in New York, parts of New Jersey, and Pennsylvania as well as supplies electricity to wholesale customers.

Edison's stock was trading in a well defined range with support at $56.07 and resistance at $61.88, given that this range was broken traders will be closely monitoring the stock