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

New York, April 2nd ( - Shares of Sanofi-Aventis (NYSE:SNY) closed the session at $50.96 just above calculated resistance at $50.93. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.

Sanofi-Aventis (NYSE:SNY) is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

The stock was trading in a well defined range with support at $46.16 and resistance at $50.93. Given that this range was broken, traders will be closely monitoring Sanofi-Aventis' 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 Sanofi-Aventis is still near the broken resistance level, traders will be focusing on the $50.93 level to see if the stock holds the breakout without rolling over.

TradersHuddle Search

Stock Search:

Site Search:

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 17,798.49 ▼14.90 (-0.08%)
o S&P 500 2,090.11 ▲1.24 (0.06%)
o NASDAQ 5,127.52 ▲11.38 (0.22%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,798.49 Trade time:1:57PM EST Value change:▼14.90 (-0.08%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,090.11 Trade time:1:57PM EST Value change:▲1.24 (0.06%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:5,127.52 Trade time:2:15PM EST Value change:▲11.38 (0.22%)
Copyright © 2013 All Rights Reserved.