Energizer Moving Above Resistance

Published on Friday, 03 September 2010 17:52 Written by Christian Paolinetti

New York, September 3rd (TradersHuddle.com) - Shares of Energizer Holdings, Inc. (NYSE:ENR) closed the trading session at $66.30 just above calculated resistance at $65.47 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Energizer Holdings, Inc. (NYSE:ENR) is a consumer goods Company that operates around the world. Its household products division manufactures dry cell batteries, flashlights, and other lighting products. The personal care division offers a diversified range of consumer products in the wet shave, skin care feminine care and infant care categories. Energizer market its products through well established brand names such as Energizer, Eveready, Schick, Playtex, Banana Boat, and Hawaiian Tropic.

Energizer's stock was trading in a well defined range with support at $61.54 and resistance at $65.47, given that this range was broken traders will be closely monitoring the stock?s price action for clues of direction.

From a technical perspective it can be expected that previous resistance becomes support, as the new range gets defined, however, given that Energizer's stock is still near the broken resistance level, traders will be focusing on $65.47 to see if the stock holds the breakout without rolling over.