Republic Close to 50 Day Moving Average

Published on Wednesday, 10 March 2010 08:16 Written by Christopher Lynn

New York, March 10th (TradersHuddle.com) - Shares of Republic Services, Inc. (NYSE:RSG) closed the trading day at $29.00 very close to its 50 day moving average currently set at $27.91. Republic's price action is just above this important support level translating into a trading opportunity.

Republic Services, Inc. (NYSE:RS) provides non-hazardous solid waste collection and disposal services in the United States. The Company provides solid waste collection services for commercial, industrial, municipal, and residential customers.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $25.50 and calculated resistance at $29.55. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on Republic will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other ley levels that might affect their upside or downside.