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Plum Creek Timber near Support |
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Written by Christian Paolinetti
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Monday, 08 February 2010 07:04 |
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New York, Feb 8th (TradersHuddle.com) - Shares of Plum Creek Timber Company, Inc. (NYSE:PCL) are trading
very close to calculated support at $35.9 with current price action closing at just $36.41 places
the stock price near levels where traders will start paying attention. Plum Creek Timber Company, Inc. (NYSE:PCL) grows, harvests, and markets timber and logs, and manufactures forest products such as lumber and plywood. The Company owns timberlands located in the United States. Plum Creek also owns natural resource businesses that focus on mineral extraction and natural gas production Plum Creek's current stock range is defined by current calculated support defined at $35.9 and by the
resistance level at $38.54, which should be used by traders planning their trades. Traders wanting to establish a position should place close attention to Plum Creek's price action, and establish
a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance
point at $38.54 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.

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