Trading Idea - SCANA Broke Resistance, What to Expect?

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Trading Idea - SCANA Broke Resistance, What to Expect?

Published on Tuesday, 27 December 2011 19:36 Written by Christopher Lynn

New York, December 27th (TradersHuddle.com) - Shares of SCANA Corporation (NYSE:SCG) closed the trading session at $45.14 just above calculated resistance at $43.93 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

SCANA Corporation (NYSE:SCG) is a holding company involved in regulated electric and natural gas utility operations, telecommunications, and other energy-related businesses. The Company serves electric customers in South Carolina and natural gas customers in South Carolina, North Carolina, and Georgia.

SCANA's stock was trading in a well defined range with support at $40.51 and resistance at $43.93, given that this range was broken traders will be closely monitoring the stock

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