Is E*TRADE Setting up for a Break Out?

New York, December 27th ( - Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) closed the trading session at $8.66 with its price action in a very tight range, given that calculated support is set at $8.45 and the calculated resistance is set at $8.90.

E*TRADE Financial Corporation (NASDAQ:ETFC) provides online brokerage and related products and services primarily to individual retail investors. The company offers investor-focused banking, primarily sweep deposits and savings products.

E*TRADE's stock price action indicates that both sellers and buyers are materializing very close to each other. This signals an area where momentum is building, since the stock can resolve by breaking out of the developing tight range.

Traders wanting to establish a position should pay close attention to E*TRADE's price action, as any movement outside its predefined range of $8.45 and $8.90 could grasp the attention of momentum buyers that look for a big movement in the price of the stock. Traders need to be aware that tight range resolution works both ways, hence, a move below support could spark above the average selling. A tiered approach could be the best way to start a position; enter into it while the stock is in the tight range, and then add to this position as it breaks and closes above resistance.

Note - Automated Content Created By TradersHuddle's Technical Scanner

Related Partner Headlines

    You could minimize risk by trading in stock sectors rather than individual stocks. Find out why ETFs are the hottest investment vehicle on the planet. Try ETF Profits for FREE NOW!

    TradersHuddle Search

    Stock Search:

    Site Search:


    Technical Scans

    Recent Trading Ideas

    Latest Partner Headlines

    Stock Market

    o Dow Jones 17,198.28 ▼81.46 (-0.47%)
    o S&P 500 1,993.34 ▼17.06 (-0.85%)
    o NASDAQ 4,518.92 ▼60.87 (-1.33%)

    Dow Jones

    Company ID [INDEXDJX:.DJI] Last trade:17,198.28 Trade time:12:14PM EDT Value change:▼81.46 (-0.47%)

    S&P 500

    Company ID [INDEXSP:.INX] Last trade:1,993.34 Trade time:12:14PM EDT Value change:▼17.06 (-0.85%)


    Company ID [INDEXNASDAQ:.IXIC] Last trade:4,518.92 Trade time:12:14PM EDT Value change:▼60.87 (-1.33%)

    In The Wires

    Copyright © 2013 All Rights Reserved.