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Focus Stocks

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.

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o Dow Jones 18,010.68 ▼115.44 (-0.64%)
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INDEXDJX:.DJI

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Company ID [INDEXDJX:.DJI] Last trade:18,010.68 Trade time:4:30PM EDT Value change:▼115.44 (-0.64%)
INDEXSP:.INX

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Company ID [INDEXSP:.INX] Last trade:2,107.39 Trade time:4:30PM EDT Value change:▼13.40 (-0.63%)
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Company ID [INDEXNASDAQ:.IXIC] Last trade:5,070.03 Trade time:5:16PM EDT Value change:▼27.95 (-0.55%)
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