Trading Idea: What to Expect as WellPoint Breaks Resistance

New York, December 18th (TradersHuddle.com) - Shares of WellPoint Inc. (NYSE:WLP) closed the session at $60.03 just above calculated resistance at $59.95. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.

WellPoint Inc. (NYSE:WLP) is a health benefits company. The Company provides health, dental and vision benefits, pharmacy benefits, life insurance, and life and disability insurance benefits. WellPoint operations include Blue Cross and Blue Shield plans.

The stock was trading in a well defined range with support at $53.69 and resistance at $59.95. Given that this range was broken, traders will be closely monitoring WellPoint's price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that WellPoint is still near the broken resistance level, traders will be focusing on the $59.95 level to see if the stock holds the breakout without rolling over.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,810.06 ▲91.06 (0.51%)
o S&P 500 2,063.50 ▲10.75 (0.52%)
o NASDAQ 4,712.97 ▲11.10 (0.24%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,810.06 Trade time:4:33PM EST Value change:▲91.06 (0.51%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,063.50 Trade time:4:33PM EST Value change:▲10.75 (0.52%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,712.97 Trade time:5:15PM EST Value change:▲11.10 (0.24%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.