Energizer near Key Resistance Area

Published on Wednesday, 11 January 2012 18:44 Written by Christian Paolinetti

New York, January 11th (TradersHuddle.com) - Shares of Energizer Holdings, Inc. (NYSE:ENR) are trading very close to calculated resistance at $79.98 with the current price action closing at just $77.90 placing the stock near levels that make it difficult to buy.

Energizer Holdings, Inc. (NYSE:ENR) is a consumer goods Company that operates around the world. Its household products division manufactures dry cell batteries, flashlights, and other lighting products. The personal care division offers a diversified range of consumer products in the wet shave, skin care feminine care and infant care categories. Energizer market its products through well established brand names such as Energizer, Eveready, Schick, Playtex, Banana Boat, and Hawaiian Tropic.

Energizer's current stock range is defined by current calculated support defined at $67.27 and by the resistance level at $79.98, the stock is clearly over-extended from support, making it difficult to establishing new long positions at this level.

Traders don't have a clear entry point for Energizer, as the stock is well above support, however, as the stock pulls back towards $67.27 it will definitely provide a reference point to establish a trade. On the other hand if the stock decides to break above resistance level at $79.98 then traders will get an opportunity to enter Energizer stock by establishing a position as the stock moves to a higher range.