Above Resistance - American Greetings

Published on Tuesday, 10 January 2012 18:40 Written by Christopher Lynn

New York, January 10th (TradersHuddle.com) - Shares of American Greetings Corporation (NYSE:AM) closed the trading session at $13.38 just above calculated resistance at $13.16 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

American Greetings Corporation (NYSE:AM) designs, manufactures, and sells everyday and seasonal greeting cards and other social expression products.Its products include greeting cards, gift wrap, paper party goods, candles, balloons, stationery, and giftware.

American Greetings' stock was trading in a well defined range with support at $12.47 and resistance at $13.16, given that this range was broken traders will be closely monitoring the stock