Trading Idea - Key levels for Harman International

Published on Thursday, 11 March 2010 08:00 Written by Danny Miller

New York, March 11th (TradersHuddle.com) - Shares of Harman International Industries, Inc. ( (NYSE:HAR) are trading very close to calculated support at $42.03 with current price action closing at just $43.97 places the stock price near levels where traders will start paying attention.

Harman International Industries, Inc. (NYSE:HAR) designs, manufactures, and markets audio and electronic systems. The Company's Automotive segment designs, manufactures and markets audio, electronic and infotainment systems for vehicle applications and its Consumer segment designs, manufactures and markets audio and electronic systems for home, mobile and multimedia applications.

Harman's current stock range is defined by current calculated support defined at $42.03 and by the resistance level at $45.09, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Harman'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 $45.09 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.