Is E*TRADE Breaking Out?

New York, February 13th (TradersHuddle.com) - Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) closed the session at $11.31 just above calculated resistance at $10.95. 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 $10.95. 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 $10.95 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 16,399.67 ▲19.26 (0.12%)
o S&P 500 1,904.01 ▲17.25 (0.91%)
o NASDAQ 4,316.07 (%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,399.67 Trade time:4:31PM EDT Value change:▲19.26 (0.12%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,904.01 Trade time:4:31PM EDT Value change:▲17.25 (0.91%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,316.07 Trade time:5:15PM EDT Value change: (%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.