New York, November 24th (TradersHuddle.com) - Shares of Timken Company (NYSE:TKR) booked a new 52 week high today by trading above $44.76, traders are definitely monitoring Timken's price action to see if this move attracts further buying into the stock.

The Timken Company (NYSE:TKR) manufactures and distributes anti-friction roller bearings and specialty alloy steels. Its products are used in general industry and in a wide variety of products, including passenger cars, machine tools, farm and construction equipment, and rolling mills, and other products.

Timken is currently trading 2.22% versus its previous trading session close, and it has calculated support and resistance at $42.02 and $44.76 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 1.32% from its previous trading close, which means that Timken stock is outperforming the overall market.

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