• Error loading component: com_content, 1
  • Error loading component: com_content, 1
  • Error loading component: com_content, 1

New York, January 29th ( - Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) closed the session at $10.6 just above calculated resistance at $10.46. The stock moved to what appears to be a higher range, spurring attention from momentum buyers.

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.

The stock was trading in a well defined range with support at $9.87 and resistance at $10.46. Given that this range was broken, traders will be closely monitoring E*TRADE'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 E*TRADE is still near the broken resistance level, traders will be focusing on the $10.46 level to see if the stock holds the breakout without rolling over.

Technical Scans

Stock Market

o Dow Jones 17,050.75 ▲138.46 (0.82%)
o S&P 500 2,013.43 ▲17.60 (0.88%)
o NASDAQ 4,810.79 ▲19.64 (0.41%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,050.75 Trade time:4:29PM EDT Value change:▲138.46 (0.82%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,013.43 Trade time:4:29PM EDT Value change:▲17.60 (0.88%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,810.79 Trade time:5:15PM EDT Value change:▲19.64 (0.41%)

In The Wires

Copyright © 2013 All Rights Reserved.