Trading Idea: - Is E*TRADE close to Resistance?

New York, February 1st (TradersHuddle.com) - Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) are trading very close to calculated resistance at $10.70. The stock ended the trading session at just $10.60, which is near levels that make it difficult to buy or start a position.

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 range is defined by its calculated support defined at $9.87 and by the resistance level at $10.70; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for E*TRADE. However, as the stock pulls back towards $9.87 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $10.70 then traders will get an opportunity to enter the stock as it moves to a higher range.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,873.22 ▲44.93 (0.25%)
o S&P 500 2,099.06 ▲8.96 (0.43%)
o NASDAQ 4,933.50 ▲31.74 (0.65%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,873.22 Trade time:4:43PM EDT Value change:▲44.93 (0.25%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,099.06 Trade time:4:43PM EDT Value change:▲8.96 (0.43%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,933.50 Trade time:5:15PM EDT Value change:▲31.74 (0.65%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.