Quiksilver Broke Resistance

Published on Friday, 03 February 2012 08:08 Written by Christopher Lynn

New York, February 3rd (TradersHuddle.com) - Shares of Quiksilver, Inc. (NYSE:ZQK) closed the trading session at $4.51 just above calculated resistance at $4.45 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Quiksilver, Inc. (NYSE:ZQK) designs, produces, and distributes branded apparel, footwear, accessories, and related products. The company sells its products under the Quiksilver, Roxy, Raisins, Radio Fiji, and Bent Metal brand names among others.

Quiksilver's stock was trading in a well defined range with support at $3.61 and resistance at $4.45, given that this range was broken traders will be closely monitoring the stock