Goldcorp Broke Resistance

Published on Wednesday, 29 February 2012 06:56 Written by TradersHuddle Wire

New York, February 29th (TradersHuddle.com) - Shares of Goldcorp, Inc. (NYSE:GG) closed the trading session at $50.03 just above calculated resistance at $49.93 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Goldcorp, Inc. (NYSE:GG) is a North American gold producer. The Company has gold mining operations in the United States, Canada, Mexico, Brazil, Argentina, and Australia. The company is headquartered in Vancouver, Canada.

Goldcorp's stock was trading in a well defined range with support at $44.78 and resistance at $49.93, given that this range was broken traders will be closely monitoring the stock