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CBS Broke Resistance
Published on Friday, 30 December 2011 07:20 Written by TradersHuddle Staff
New York, December 30th (TradersHuddle.com) - Shares of CBS Corporation (NYSE:CBS) closed the trading session at $27.24 just above calculated resistance at $27.20 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range
CBS Corporation (NYSE:CBS) is a media company that operates broadcasting, television production, and publishing businesses. The Company operates television and radio stations, produces and syndicates television programs, publishes books, provides online content as well as provides outdoor advertising.
CBS' stock was trading in a well defined range with support at $24.49 and resistance at $27.20, given that this range was broken traders will be closely monitoring the stock
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